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March 1, 2022

Saxo Closes RUB Pair Trading

March 01, 2022 - In response to the Ukraine crisis, Saxo Bank has halted RUB currency pair trading. This includes USDRUB, EURRUB, RUBHUF & XAURUB pairs, and has also suspended incoming RUB payments. Trading was stopped at 14.50 GMT yesterday February 28.

In a letter to clients yesterday, Saxo explained, "As you may know, RUB pairs are currently subject to heightened risks including large price moves, low liquidity and possible interruptions in market access resulting from government sanctions or restrictions imposed by exchanges.

"Please be informed that trading in all RUB currency pairs will be discontinued today at 14:50 GMT.

"You are encouraged to take measures to manage your exposure ahead of this time. Any open RUB currency pair positions at 14:50 GMT will be closed automatically.

"It is also worth noting that incoming RUB cash payments are suspended until further notice."

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