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MOEX Partially Reopens Stock Trading With Limits on Short-Selling; RUB Gains on Putin Remarks

RUSSIA

FX/FI MARKETS (Stock trading partially reopens)

  • Stock trading is set to partially reopen today with limits on short-selling and only the 33 most liquid MOEX constituents set to reopen for a four hour session.
  • This with be interesting to gauge after an extended closure and will likely see significant selling pressure.
  • USD/RUB BGN fell -8% yesterday following moves from Putin to make oil/gas contracts RUB-denominated, a move which similar export industries may try to mirror to avoid sanctions.
  • The cross now trades below the 100 handle, just shy of last week’s lows at 94.9775 & 91.1598 with brent surging back above the $120/bbl mark.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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