FX Volumes down over 10% During May at the Moscow Exchange

The total of the Moscow Exchange"s turnover was RUB 36.4 trillion in May 2014, down by 12.7% from April's figure

moex1The Moscow Exchange (MOEX) has released its May trading volumes today showing a slump in overall numbers compared to the previous month. The total of the Moscow Exchange”s turnover was RUB 36.4 trillion in May 2014, down by 12.7% from April’s figure of RUB 41.7 trillion.

MOEX’s FX market turnover in May 2014 was RUB 16.7 trillion, a decrease of 10.2% from the previous month but still up 38.2% from the May 2013 figure of RUB 12.1 trillion. The May FX market turnover includes spot trades of RUB 5.1 trillion and swap trades of RUB 11.7 trillion, down 12% and 8.6% month-over- month respectively. The FX market’s average daily turnover (ADV) was RUB 0.8 trillion, or US $24 billion in May.

Suggested articles

Ready to kick-off your Trading Game with Manchester United?Go to article >>

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

During 2013, MOEX enjoyed very strong growth but could not have reached the full potential of the Russian market so soon, as late as March 2014 new trading records were achieved. The ongoing tense geopolitical crisis with the west over the situation in the Ukraine could be behind the recent slump in volumes, time will tell how it is resolved and if further isolation will hurt the Russian economy in a way that will reflect in MOEX numbers.

Got a news tip? Let Us Know