Moscow Exchange to Start Ruble-Yuan Futures Trading Next Week
By RT
Moscow trading in ruble-yuan futures will begin on March 17 with the currency pair expected to become the third most popular by volume, says Moscow Exchange (MOEX) Deputy Chairman Andrey Shemetov.
The number of tools that allow bidders to hedge their currency risks is currently not enough, that’s why Moscow Exchange offered to introduce a new hedging instrument as quickly as possible – futures on the yuan-ruble currency pair, Shemetov said Thursday as quoted by TASS.
“We hope that in the near future this tool will take the third position on the futures market and will allow producers to hedge their currency risks and increase the trade turnover between Russia and China,” he said, adding that in the spot market the ruble-yuan currency pair is already the third most popular terms of volume. The circulation of the Chinese currency has recently increased tenfold, according to Shemetov.
The Moscow Exchange hopes the futures will be liquid enough so manufacturers and suppliers can increase trade turnover between Russia and China.