Russia’s Moscow Exchange (MOEX) introduced Monday to commerce the Turkish lira and Hong Kong greenback as of March 1.
MOEX stated the launch of recent contracts for the Turkish lira and Hong Kong greenback stemmed from a rising curiosity from shoppers in buying and selling each currencies.
Investors could have entry to contracts expiring in June, September, and December 2023 and March 2024 for the Turkish lira and Hong Kong greenback futures.
“Currency futures are one of the most popular instruments with investors around the world, and our market is no exception. Over 50% of the volume of transactions in the derivatives market today is currency derivatives. These are convenient tools that allow you to implement various strategies on changes in exchange rates and hedge currency risks at low cost,” stated Managing Director for Derivatives of the Moscow Exchange Vladimir Yarovoy.
Yarovoy additional stated the demand for the Turkish lira in MOEX has risen by seventeen-fold.
Source: www.dailysabah.com
