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Moscow Exchange to start ruble-yuan futures trading next week
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Moscow Exchange to start ruble-yuan futures trading next week
Moscow trading in ruble-yuan futures will begin on March 17 with the pair of currencies expected to become the third most popular by volume, says Moscow Exchange (MOEX) Deputy Chairman Andrei Shemetov.
The number of tools that allow bidders to hedge their currency risks is currently not enough, that’s why Moscow Exchange offered to introduce a new hedging instrument as quickly as possible – futures on the yuan-ruble currency pair, Shemetov said Thursday as quoted by TASS.
“We hope that in the near future this tool will take the third position on the futures market and will allow producers to hedge their currency risks and increase the trade turnover between Russia and China,” he said adding that in the spot market ruble-yuan currency pair is already the third most popular terms of volume. The circulation of the Chinese currency has recently increased ten times, according to Shemetov.
The Moscow Exchange hopes the futures will be liquid enough so manufacturers and suppliers could increase the trade turnover between Russia and China…..more here
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