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Russian stock market shows decline at start of main trading session

The yuan’s growth moderated slightly, with the rate at 10.873 rubles

MOSCOW, July 18. /TASS/. The Russian stock market opened the main trading session with a decline in key indices on Friday, according to data from the Moscow Exchange.

As of 10:00 a.m. Moscow time, the MOEX Index was down by 1.68%, standing at 2,715.11 points. The RTS Index also dropped 1.68%, reaching 1,093.96 points. At the same time, the yuan-to-ruble exchange rate on the Moscow Exchange rose by 4.25 kopecks compared to the previous session’s close, reaching 10.888 rubles.

By 10:15 a.m., the MOEX Index had slightly slowed its decline and stood at 2,732.2 points (-1.06%), while the RTS Index reached 1,100.82 points (-1.06%). At that point, the yuan’s growth also moderated slightly, with the rate at 10.873 rubles (+2.7 kopecks).

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