Russian Foreign Exchange Market: Unveiling the Shifting Landscape | The Gaze

The Russian foreign exchange market is undergoing a profound transformation, with foreign investors notably absent, reminiscent of the mid-1990s. The past year's events have left an indelible mark on this financial arena. Currency composition has shifted significantly, with the Moscow Exchange's currency turnover now a fraction of what it used to be. In a striking change, the dominance of the dollar and euro has waned, making room for the yuan and various other currencies. The move away from the dollar and euro in transactions, coupled with the reduced share of hard currency, stands as a pivotal factor influencing the weakening of the rouble. Join us as we dissect these developments and their implications.