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Moscow Exchange will trade Hong Kong dollars
The Committee on the Foreign Exchange Market of the Moscow Stock Exchange approved the launch on its currency market of a new currency pair - the Hong Kong dollar / Russian ruble. This was reported by the press service of the MB. As expected, participants will be able to access spot and swap instruments, but the date of the bidding will be determined later.
“We see the demand of participants and their clients for Hong Kong dollar transactions and we want to provide them with the appropriate tools. The appearance on the Moscow Exchange of the Hong Kong dollar - Russian ruble currency pair will enable clients to make conversion transactions with guarantees from the central counterparty at the best market prices, ”explained Igor Marich, Managing Director for the Money Market of the Moscow Exchange.
Sergei Romanchuk, the head of Metallinvestbank's dealing center, explained to RBC that the Hong Kong dollar is interesting to a wide range of market participants who do not want to have the American currency in their accounts because of fears that operations may be restricted due to sanctions. The Hong Kong dollar is an ideal replacement: it's the same American dollar, only in a different jurisdiction, he said.