YEREVAN, June 27, /ARKA/. The Moscow Stock Exchange (MOEX) started today trading with the Uzbek sum, Armenian dram and South African Rand, Russian news agency TASS reported.
MOEX expects the move to expand the opportunities for professional market participants, including foreign partners.
Armenia and Uzbekistan have praised the decision, expressing hope that it will strengthen their respective currencies.
In late March, MOEX reopened, although under heavy restrictions, including bans on trades with multiple currencies. It has seen a 38% year-to-date drop in value. However, the Russian ruble has risen to its highest level since 2015, thanks to record oil and gas revenue. -0-
