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Russian central bank modelling sanctions scenarios with FX market players

·1-min read
FILE PHOTO: National flag flies over the Russian Central Bank headquarters in Moscow

MOSCOW (Reuters) - Russia's central bank said on Friday it was modelling various sanctions scenarios with forex market participants.

Forbes Russia had earlier reported that the central bank was discussing a mechanism for managing the rouble-dollar exchange rate should exchange trading be halted in the event of sanctions against the Moscow Exchange and the National Clearing Centre.

"Sanctions restrictions are constantly changing," the central bank told Reuters in a statement. "To ensure the protection of clients and the smooth operation of the financial system, the Bank of Russia is carrying out modelling of various scenarios with market participants and infrastructure organisations."

Moscow Exchange did not immediately respond to a Reuters request for comment.

The exchange has already suspended trading of the Swiss franc against the rouble and U.S. dollar. Trading in the Japanese yen will be suspended on Moscow Exchange's foreign exchange market from Aug. 8.

(Reporting by Reuters)

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