NBRB to trade on Moscow Exchange currency market by year end

           The National Bank of the Republic of Belarus may enter the currency market of the Moscow Exchange by the end of the year. The information was released by Igor Marich, Moscow Exchange Managing Director for Money Market. At present out of non-resident banks three financial organizations trade on the currency market of the Moscow Exchange and all of them are Belarusian ones. “The participation of non-resident banks in trade sessions provides additional liquidity to the exchange market and can liven up trade in the currency pairs of our countries, the Russian ruble – Belarusian ruble pair in this case,” noted Igor Marich. In his words, the volume of transactions carried out by the non-resident banks is not that high for now. “While at present the daily turnover of the currency market is about $20 billion, Belarusian banks trade tens of millions of US dollars weekly. But with the arrival of new traders the liquidity will rise,” said Igor Marich. Apart from the Belarusian financial institutions the Moscow Exchange is expected to welcome Tajikistan’s largest bank - Eskhata Bank – by the end of the year. Banks from Kyrgyzstan and Kazakhstan are expected to enter the EurAsEC integrated currency market in 2014.