Moreover, last year saw an increased use of RMB contracts, confirming the new position of the Chinese national currency, as the exchange saw a 19% rise over the year from the volume reached in 2014. The company informed that it has set a target to be reached in 2016, of higher volume and more instruments for renminbi.
Nevertheless, in Russia, the Moscow Exchange (Moskovskaya Birzha) experienced an expected drop in volumes during the month of January (what is not unusual, as January belongs to months with a lower volume generally) mostly caused by the winter holidays season in Russia.
As the Moscow Exchange informed on Thursday, the decline was seen across many currency pairs, according to the detailed volumes metrics on forex market for the month of January 2016. However, as we have seen, the trading activity was not that disappointing globally, so we can not connect these two categories. Here are some data, showing the real performance on the Moscow Exchange:
The CNY/RUB pair trading volumes reached RUB61.7 billion, what is a fall of 39.9% over the month. CNY/RUB transactions made 0.25 of all forex trades at Moscow Exchange in January, from 0.3%, reached in December 2015.
The USD/RUB pair was the mostly traded pair in January and its share on all the trading volumes during the month reached even 84.3% from the previous 80.4% in December 2015. Still, the trading volume was only RUB23.4 trillion, what is a decrease of 6% from December, albeit not a significant one.
Second mostly trades pair was naturally the EUR/RUB, whose share reached 12.7% on forex transactions on Moscow Exchange and its trading volume dipped 20.4% from December 2015 to RUB3.5 trillion.
The globally most popular pair, the EUR/USD was seen in only 2.8% of all the forex transactions on Moscow Exchange compared to 5% in the previous month, while its trading volumes were seen plunging 53% from December 2015.
For any questions or recommendations, feel free to write us on firstname.lastname@example.org