MOEX FX Volumes Plunge During April, down -19.1% MoM Following Strong March

The Moscow Exchange (MOEX) has announced its trading volumes for the month of April, highlighted by a massive downturn in

moexThe Moscow Exchange (MOEX) has announced its trading volumes for the month of April, highlighted by a massive downturn in forex volume on the heels of a stout March, according to a MOEX statement.

FX Turnover Volume in Retreat

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During the month of April, overall turnover totaled $1.17 billion (RUB 41.7 billion), compared with $1.19 billion (RUB 42.4 billion) in April 2013, or -1.7% YoY. However, in terms of forex market turnover, April yielded $521 billion (RUB 18.6 trillion), a staunch decline from $644 billion (RUB 23.0 trillion) in March, corresponding to a -19.1% drop MoM. Despite this waning however, market turnover for forex still has boasted a 22.4% rise YoY from April 2013.

Indeed, 2014 has been a mixed bag for the MOEX thus far, given the spikes in volatility surrounding the diplomatic breakdown between the Ukraine and Russia – this in turn led to a surge in forex volume during the first quarter of the year. MOEX has also been in the news recently for an apparent halting on its exchange this past April, as technical errors were seen as the culprit.

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