Moscow Exchange to launch trading in Azerbaijani manat in 2023
The Moscow Exchange plans to launch trades in the Azerbaijani manat, the UAE dirham, and the Egyptian pound in 2023, Board Chairman Yury Denisov said, Azernews reports per TASS.
“Plans for 2023 include launching trading in the UAE dirham, the Azerbaijani manat, and the Egyptian pound in 2023. All these currencies are of the major foreign trade partners of Russia,” he said.
He stressed that the shift of interest towards national currencies and replacing the volume of trading in dollars and euros with them has become a key trend in the foreign exchange market.
The board chairman also stated that the share of transactions with friendly currencies in the total volume of spot transactions in November amounted to 34 percent of the total volume.
Moreover, the Moscow Exchange business development department Managing Director Kirill Pestov stated that against the background of growing demand for national currencies, the stock exchange plans to launch futures on the futures market in 2023 for the Turkish lira-the Russian ruble, the Hong Kong dollar- the Russian ruble, and the US dollar- the Chinese yuan pairs.
Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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