Retail Forex broker FxPro today informed its clients of pending changes to margin requirements for positions with instruments with the Russian ruble (RUB).
The margin requirement for exposures in all RUB pairs will be changed to 10% as of 10:00 (server time) January 25, 2016 (Monday). The company notes that new positions will be affected only.
Explaining the changes, FxPro notes the heightened volatility across RUB pairs in recent weeks.
As per LeapRate’s earlier report, the Russian currency hit its lowest level against the US dollar on Wednesday, as one dollar exchanged for 80.50 RUB. The situation for the Ruble worsened even further afterwards, as the official exchange rate set by the Bank of Russia is 83.5913 RUB per USD 1 for January 22, 2016. The official rate for January 23, 2016 is 80.5714.
USD/RUB official exchange rate dynamics. Source: Central Bank of Russia.
You can find out more about FxPro’s margin requirements by visiting this page.