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Russian stocks down as Thursday trading opens, yuan moves to positive territory

The MOEX Index fell by 0.83% to 2,922.77 points, while the dollar-denominated RTS Index also lost 0.83% to 1,045.25 points

MOSCOW, July 18. /TASS/. Russia’s stock market went down as Thursday trading opened on Moscow Exchange while the yuan exchange rate moved to the positive territory against the ruble, according to trading data.

As of 10:15 a.m. Moscow time (07:15 a.m. GMT) the MOEX was down by 0.83% at 2,922.7 points, while the RTS was down by 0.83% at 1,045.23 points. Meanwhile the yuan exchange rate was up by 1.2 kopecks at 12.015 rubles.

As trading opened at 10:00 a.m. Moscow time (07:00 a.m. GMT) the MOEX Index fell by 0.83% to 2,922.77 points, the dollar-denominated RTS Index also lost 0.83% to 1,045.25 points, while the yuan exchange rate fell by 0.3 kopecks compared with previous closing to 12 rubles.

On June 12, the US Treasury imposed sanctions against the Moscow Exchange and the National Clearing Center, part of the Moscow Exchange group. In this regard, the Moscow Exchange announced that from June 13 it would suspend trading in the dollar and euro. The Bank of Russia announced that citizens and companies could buy and sell dollars and euros despite sanctions. The regulator will use bank reports and information from over-the-counter trading to determine the dollar and euro exchange rates to the ruble.

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