Moscow Stock Exchange To Start Trading In Hong Kong Dollars

[Purveyor]

The Moscow Stock Exchange’s currency exchange committee has approved trading in Hong Kong dollars. The decision was made during a committee meeting on Sept. 23.

The date of the launch has yet to be determined. Igor Marich, the exchange's executive director on the currency market said that the decision was in response to demands from market participants.

According to RBC Daily, Russian corporations requested this currency following the implementation of sanctions by the United States and the European Union. Sergei Romanchuk, director of the Metallinvestbank Trading Center, said that many companies that trade on the Moscow Exchange are concerned that sanctions may restrict the operations of accounts held in U.S. dollars.

Accounts in the Hong Kong dollar are also interesting for state banks, which are now taking their money out of Western banks due to the sanctions.

Source: Russia Beyond the Headlines - http://rbth.com/news/2014/09/24/moscow_stock_exchange_to_start_trading_in_hong_kong_dollars_40071.html)

[MohRokTah]

1. I had a little bit of Russian stock in my 401K.

I dumped it prior to the Ukraine going to shit, though. Glad I did now.

It was only about 0.05% of the total portfolio.

[msanthrope]

2. Where did Snowden travel from and to? nt

[MohRokTah]

7. Very interesting observation! eom

[dipsydoodle]

3. Makes sense.

.

[Octafish]

4. This is going to cause a problem.

How can we always have been at war with both Eurasia and Eastasia?

[HereSince1628]

5. Really, you do have to give Vlad some points for TRYING.

[JI7]

6. so this is why putin has been getting involved with china recently

[nilesobek]

9. If they manage to break the dollar then

the low 99%er like me will be free.

[whatchamacallit]

10. Ah... It's obvious how we felt about Saddam's oil bourse

The picture becomes little clearer...

[dipsydoodle]

11. That was sheer comedy.

Cost the US a bundle to buy using Euros. From memory a Saddam lost a bundle at first anyway and then the value of Euros rose creating vast windfall profits.