Array
On Monday, the Moscow Exchange announced it will stop accepting US dollars as collateral on the foreign exchange and securities market from August 29.
The exchange did not explain the new policy or provide further details, but it had already limited the use of the greenback as collateral to 25% from 50% earlier in August. The Moscow Exchange is the largest exchange in Russia.
Russia has been hit with sweeping international sanctions since it invaded Ukraine on February 24. This means the country can’t use nearly half its foreign exchange reserves, which are seen as a crucial tool for countering Western economic sanctions.
