Moscow Exchange Announces FX Volumes Rising by 4.8% in June

Average daily FX volumes on the Moscow Exchnage during the month of June have risen by just a touch below

moex1Average daily FX volumes on the Moscow Exchange, during the month of June, have risen by just a touch below 4.8% to $510 billion (17.5 trillion) over May, and were higher by 26% year-on-year. The share of spot deals totalled 28%, with the remaining 72% of trades being executed through swap contracts.

The total turnover on the exchange was $1.08 trillion (37.15 trillion RUB), with other asset classes marking an increase being Equities, Precious Metals, Money Markets and the Derivatives Market. With the volatility on the Russian market unabating due to geopolitical tensions, the number confirms a much stronger year-on-year trend.

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Moscow Exchange Average Daily FX Volumes, trln RUB

Tensions in the Ukraine are still affecting the Russian foreign exchange market, after the currency had stabilized over the past couple of months, only to get hammered on the first trading day of July, after newly elected Ukrainian President, Petro Poroshenko announced that the ceasefire with the pro-Russian separatists in Eastern Ukraine is not going to be renewed.

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