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

1 min read
A view shows the headquarters of Moscow Exchange

MOSCOW – 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%.

(Reporting by Moscow Newsroom; editing by Jason Neely)