EMTA advised traders not to rely on Moscow Exchange data to assess the ruble exchange rate

The Trade Association for the Emerging Markets, EMTA, strongly advised traders from June 6 to use WM/Refinitiv data to assess the ruble exchange rate instead of the Moscow Exchange. 

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Such a recommendation is explained by the fact that this should remove the doubts of traders about the exchange rate of the Russian ruble, which were previously taken from the Moscow Exchange. But this is only a recommendation.

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The Emerging Markets Traders Association includes: Bank of America; J.P. Morgan Chase; Credit Suisse; Deutsche Bank; Goldman Sachs; Morgan Stanley; Societe Generale; Barclays.

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After the start of a military special operation in Ukraine, due to sanctions imposed by the White House, the economy is in a very “shaky” state. But, despite this, the ruble began to rise in price from mid-March, and now it has updated its highs, returning to the level of 2020.