European clearing system accepts Russian currency
Published time: 13 Feb, 2007 11:28 Edited time: 13 Feb, 2007 14:28
The Russian Rouble has been accepted as a settlement currency by the Euroclear international clearing system. It means that counterparties can trade directly in bonds or shares which are denominated in roubles.
Euroclear says the move will attract investors who want to capitalise on the appreciating currency.It should also boost liquidity and lower transaction costs.