08:31 AM EDT, 06/18/2024 (MT Newswires) -- US sanctions against the Moscow Exchange have not affected the trade balance between Kazakhstan and Russia, as more than 85% of the transactions are conducted in national currencies, state-run news agency TASS reported Tuesday, citing Deputy Prime Minister of Kazakhstan Serik Zhumangarin.

The US dollar lost some ground against the ruble on Tuesday but strengthened against Kazakh tenge. USD/RUB was down 1.9%, trading at 86.77, while USD/KZT was up 0.2% at 454.73.

Both the US and the UK recently imposed sanctions on the Moscow Exchange, including the National Settlement Depository and the National Clearing Center.

In response, the exchange on June 13 suspended trading in US dollars and euros, forcing traders and businesses to use over-the-counter venues.