/ / News

Belarus viewed as flagship in developing EurAsEC integrated currency market

MOSCOW, 8 November (BelTA) - Belarus is a flagship in terms of development of the integrated currency market of the EurAsEC member states, Managing Director of Money Market of the Moscow Exchange (MOEX) Igor Marich said at a ceremony on 8 November to grant OAO ASB Belarusbank the right to partake in MOEX’s trading sessions, BelTA has learnt.

Igor Marich said that currently three Belarusian banks take part in the MOEX’s integrated currency market. The Belarusian ruble has already reacted positively to the fact that Belarusian banks were grated access to MOEX’s trading sessions. “We expect that the Belarusian partners will help us improve transactions in the Belarusian rubles carried out at the exchange,” he said.

Igor Marich noted that the integrated currency market of the CIS member states will be developing vigorously. Banks from other EurAsEC countries are expected to join it before long.

The goal of the integrated currency market is to switch to payments in the national currencies of the EurAsEC member countries.
OAO ASB Belarusbank became another bank on the list of the MOEX’s members who are not residents of the Russian Federation and act in line with the licenses issued by their national banks. Foreign banks become full-fledged participants of the MOEX’s currency market in accordance with an interstate project designed to grant EurAsEC member states’ banks access to the exchange market.

The EurAsEC integrated currency market allows its participants to carry out conversion operations with all currency pairs of the MOEX market. They are the BYR-RUB, USD-RUB, EUR-RUB, EUR-USD, KZT-RUB, CNY-RUB and UAH-RUB.