MOSCOW, July 16. /TASS/. The Russian stock market is showing a downward trend during the main trading session on the Moscow Exchange, following an initial rise at the start of the session. The yuan continues to strengthen in early trading.

As of 10:00 a.m. Moscow time, the MOEX index was up 0.17% at 2,761.77 points, and the RTS index was also up 0.17%, reaching 1,116 points. The yuan-to-ruble exchange rate rose by 0.8 kopecks from the previous session’s close to 10.839 rubles.

By 10:20 a.m., the MOEX index had reversed course and was down 0.03% at 2,756.02 points, while the RTS index also slipped 0.03% to 1,113.68 points. At the same time, the yuan accelerated its upward movement, reaching 10.841 rubles, up by 1 kopeck.

Since June 13, 2024, the Moscow Exchange has suspended trading in the US dollar and the euro following sanctions imposed by the United States against the exchange and the National Clearing Centre. To determine official exchange rates for the US dollar and the euro, the Bank of Russia now relies on bank reporting and over-the-counter trading data.