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Stop in dollar exchange trade not critical for Russian market — stock exchange

The official rate can be determined at present either on the basis of exchange transactions or over-the-counter ones, Igor Marich noted

MOSCOW, December 5. /TASS/. The stop in exchange trading in the dollar at the Moscow Exchange in case of sanction risks materialization will not be critical for the Russian financial market, spokesman of the Moscow Exchange Group Igor Marich said.

The reason is a significant decline of the share of the US currency in the trading volume at the Moscow Exchange and the scheme of over-the-counter calculation for the dollar and the euro developed by the Bank of Russia.

"We see now that trading in the dollar is not playing the role it played some time ago. Only a few have accounts remaining. In broad terms, the dollar share in servicing foreign trade transactions and in the financial market, the currency market, is fundamentally lower," the spokesman said.

The official rate can be determined at present either on the basis of exchange transactions or over-the-counter ones, he added.

"This is not the first time when possible sanctions are debated publicly and the platform endeavored for traders to understand, how it will act in such situation. We expect market players have understanding. We are paying much attention to management of risks, including sanction ones," the spokesman noted.