Sunday, December 4, 2022

Moscow Exchange won’t charge 12% commission on FX buying by importers By Reuters

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© Reuters. FILE PHOTO: An interior view shows the headquarters of Moscow Exchange in Moscow, Russia April 27, 2021. REUTERS/Maxim Shemetov

MOSCOW (Reuters) – Russia’s largest bourse, Moscow Exchange, said on Friday Russian companies with direct access to trading will need to pay a 12% commission if they want to buy foreign currency, while freeing importing companies from paying the levy.

In a move to try to stabilise wildly fluctuating markets hit by Western sanctions, Russia earlier this week imposed a 30% commission on foreign exchange purchases by individuals via brokers but later lowered it to 12%.

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