"Forbes"Russian Central is preparing to prevent the circulation of the dollar and the euro on the Moscow Exchange

Forbes magazine, citing its sources, said that the Central Bank of the Russian Federation discussed with the country’s financial institutions ways to determine the exchange rate of the dollar and the euro in the event of a ban on their trading on the Moscow Exchange.

Forbes stated that “the Bank of Russia (CBR) is discussing with foreign exchange market participants how to determine the dollar and euro against the Russian ruble if the National Clearing House and the Moscow Stock Exchange are under Western sanctions.”

One of the sources said: “With these sanctions, the dollar exchange rate will not remain on the exchanges, but exports and imports will remain, which means that the ruble exchange rate must be understood. The Central Bank does not want to take over the function of setting the exchange rate.”

“For this reason, officials are leaning toward the option of creating a Russian OTC market like Bloomberg, which receives quotes from large banks.”

Source: RIA Novosti

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