EDB intends to become a market maker for the RUB/KZT pair at KASE
Almaty, 15 December 2016. Eurasian Development Bank (EDB) intends to become a market maker at KASE's currency market for the RUB/KZT pair. EDB decided to acquire this status in order to support integration of the member states' foreign exchange markets. Earlier, EDB acquired the same status for the RUB/KZT pair at Moscow Exchange.
"We are ready to offer competitive quotes for the RUB/KZT pair at both floors and hope that this step will help to raise liquidity for this instrument and, in the end, to increase the share of settlements in national currencies in foreign trade transactions between Russia and Kazakhstan," Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at EDB, commented on the agreement.
EDB is currently considering possibilities to provide liquidity in KZT and RUB at other EAEU floors as well.
Additional Information:
Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
Read more at https://eabr.org/
EDB Media Center:
+7 (727) 244 40 44 ext. 6147 (Almaty)
+7 (495) 645 04 45 ext. 2732 (Moscow)
e-mail: pressa@eabr.org