Recapitalization Revitalizes FX At Moscow Narodny Bank
BANKS
The Russian government's decision to recapitalize the London-based Moscow Narodny Bank has breathed new life into the bank's foreign exchange trading operation. Moscow Narodny, once the former Soviet Union's overseas commercial bank and a significant player in the foreign exchange market, has severely scaled back its treasury activities since the disintegration of the USSR last year. According to treasurer John Richardson, Russia's £310 million purchase of the bank's preference shares has
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