Saxo Bank announced today its latest statistics for October totaling to $392 Billion—a whopping 22% increase—the highest total volume ever reported since January last year.
From $321 billion, the bank raises to $392, achieving the healthiest increase in Denmark brokerage. Even the bank’s client collateral boosts up from $9.9 billion to $9.97 billion.
The broker said that Saxo Bank’s October trading volume results are pretty healthy and impressive especially when looking at a year-on-year perspective. Comparing the bank’s Average Daily Volume (ADV) last year and this year’s October results, it accelerated drastically from $10.4 billion to $17.1 billion—a total of 64% increase, which, brokers said, is dramatic.
Meanwhile, Russian rouble is on its downfall hitting record troubles against euro and dollar. The culprit? Falling oil prices, which drastically affects rouble value; and in turn, making companies squeeze out whatever profit they may get, escalate import prices, and heighten debt repayments. Russia’s Central Bank also announced today that it will amend its intervention policy for USD/RUB exchange rate as well as downsize to $350 million daily for its intervention.
Because of the drastic fall down of oil prices and the destabilizing issue with Ukraine, RUB dramatically depreciated and exchange rate moves toward 1 USD to 45 RUB.