Reported 7 months ago
Russia's Moscow Exchange ceased dollar and euro trading following broad US sanctions that targeted the central exchange, the National Clearing Center, and the National Settlement Depository. While over-the-counter transactions are still available, the halting of trading on the Moscow Exchange since the Cold War era is expected to drive up exchange rates. The new US sanctions aim to isolate Russia from foreign financial support, impacting the country's relationship with foreign currencies, with some Russian lenders already selling the US dollar at higher rates amid dwindling availability.
Source: YAHOO