Russian stocks open lower on Wednesday

Russian stocks opened lower on the Moscow Exchange on Wednesday, with the MOEX Index down 0.64 per cent to 3,034.53 points. While the dollar-denominated RTS Index fell by the same percentage to 1,086.26 points at 7:18 am GMT.

The decline in trading on the Moscow Exchange was triggered by US Treasury sanctions in mid-June. Trading in US dollars and euros was suspended on June 13th due to sanctions on the exchange and the National Clearing Center.

The Bank of Russia has confirmed that citizens and businesses can continue to trade in dollars and euros. The exchange rates for these currencies will be set by the regulator using bank reports and data from over-the-counter trading.

In a contrasting trend, the yuan strengthened against the ruble on Wednesday’s trading session. The yuan gained 0.5 kopecks, reaching 11.955 rubles.

Attribution: Tass