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Russian forex market has rolled back to the mid-1990s, says Russia's former minister of finance

theins.ru Russian forex market has rolled back to the mid-1990s, says former minister of finance

The Russian foreign exchange market has done a one-eighty, faced with an unprecedented near-absence of foreign investors

Russian forex market has rolled back to the mid-1990s, says former minister of finance

Before 2022, the currency trading volume at the Moscow Exchange was two or three times as big as today, but "abandoning dollars and euros for settlements and a drop in the share of hard currencies contribute to the ruble's weakening," Mikhail Zadornov says. He adds that he "can't recall a situation when we had no foreigners at all [in the Russian currency market], be it banks or institutional investors.”

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