August's Moscow Exchange Forex Volumes Give Back July's 15% Gain

The FX market turnover on the Moscow Exchange (MOEX) has given up on gains marked during the month of July, to report a decline of almost 16%. The MOEX monthly Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trading volume totaled RUB 17.0 trillion ($456 billion). The report comes despite increased volatility due to extended geopolitical tensions in Ukraine.

Apparently for now, the capital flight away from Russia has stabilized somewhat, or at least it hasn't accelerated dramatically like it did in March, when the Moscow Exchange reported its highest ever foreign exchange volumes numbers as Russia annexed Crimea, triggering capital flight away from the Russian currency.

Spot trades accounted for RUB 5.1 trillion ($136.8 billion), while swap trades accounted for RUB 11.9 trillion ($319.3 billion). The turnover on the FX market is still higher by 14% when compared to a year ago.

The forex market's average daily turnover amounted to RUB 807.8 bln ($21.6 bln).

The Russian ruble has marked new lows during the past couple of sessions. A new round of capital flight away from the country could spark increased trading volumes as EU officials debate the implementation of new sanction measures in light of claims by Ukrainian President, Petro Poroshenko, that Russian armed forces have entered into Ukraine.

Total trading volumes on the Moscow Exchange are reported at RUB 37.3 trillion across bonds, equities, FX, derivatives, money markets and precious metals.