2023-09-23 00:18:55
Written by Mohamed Elkorri Friday September 22, 2023
Russia has drawn up a list of 31 countries, including Morocco, whose banks will be allowed to participate in its foreign exchange market, according to a Russian government statement.
The Russian government announced udo list of friendly countries and neutrals who can participate in foreign exchange operations with the Russian Federation. Morocco is among the countries cited in this list which includes seven other countries of the former Soviet Union – Azerbaijan, Armenia, Belarus, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan – as well as the countries BTICS members including Brazil, India, China and South Africa.
The regulation, signed by Prime Minister Mikhail Mishustin, also states that banks and brokers from authorized countries will be able to participate in the financial derivatives market.
The Russian government noted that the new standards “are aimed at increasing the efficiency of the direct conversion mechanism of national currencies of friendly and neutral countries and the formation of direct quotations once morest the ruble to meet the demand of the Russian economy regarding payments in national currency. .”
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