Banks in Bangladesh, 29 countries can trade on Russian FX market

Russia has approved a shortened list of 30 countries, including Bangladesh whose banks can trade on its foreign exchange and derivatives markets.

In a statement, the Russian government said: "The decision is aimed at improving the efficiency of the mechanism of direct conversion of national currencies of friendly and neutral countries, and forming direct quotations to the rouble to meet the Russian economy's demand for settlements in the national currency."

The Russian Embassy in Dhaka on Saturday posted a status in this regard on it’s Facebook page.

The countries are Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Algeria, Bahrain, Bangladesh, Brazil, China, Cuba, Egypt, India, Indonesia, Iran, Qatar, Malaysia, Mongolia, Morocco, Oman, Pakistan, Qatar, Saudi Arabia, Serbia, South Africa, Thailand, Turkey, United Arab Emirates, Venezuela, and Vietnam.

But Argentina, Hong Kong, Israel, Mexico and Moldova were taken off the list that was published in draft form in the summer.