How changes in the work of the Moscow Exchange will affect Kazakhstan, the head of the National Bank said

From June 13, the Moscow Exchange will not conduct trading in dollars and euros due to falling under US sanctions. Could this affect the Kazakh economy, answered the head of the National Bank of the Republic of Kazakhstan, Timur Suleimenov, Liter.kz reports.

In the foreign exchange market and precious metals market, trading on the Moscow Exchange will be carried out in all instruments, with the exception of currency pairs with the dollar and euro. In the stock and money markets, the market for standardized derivative financial instruments (SDFI), trading is also carried out on all instruments, with the exception of instruments with settlements in dollars and euros. Trading on the derivatives market will be conducted as usual.

On the sidelines of the Senate, Suleimenov noted that the Moscow Exchange is not the only platform where the ruble-dollar pair is traded. There should not be a big impact on the Kazakh economy. At the same time, some experts advise suspending ruble transactions in Kazakhstan.

“I don’t actually know such advice, they refer to the fact that in exchange offices in Russia and Moscow the rate has jumped to the level of 200 rubles per dollar, but this situation is in the moment. When there is no clarity, there is no certainty, when they start to get nervous, but no less fundamentally is at the level at which it is located. The exchange is a platform; the exchange rate of the ruble, tenge, or other currency is always influenced by fundamental factors, how strong the economy is. This, as we see, has not changed.“, – said Suleimenov.