The US dollar exchange rate on the Kazakhstan Stock Exchange (KASE) continues to decline steadily, reaching its lowest level in over two years. Following today's trading, the weighted average dollar rate stood at 455.4 tenge, down 3 tenge from the previous day, according to infohub.kz.
It is worth recalling that the day before, the rate also dropped by 4 tenge, settling at 458.45 tenge. Thus, over two days, the American currency has weakened by 7 tenge. According to the National Bank of Kazakhstan, the last time the dollar rate was this low was on June 18, 2024, when it stood at 452.92 tenge.
In exchange offices of the country's largest cities, as of 3:30 PM local time, the situation with cash dollars was as follows: in Astana, buying was at 453 tenge, selling at 460 tenge; in Almaty, buying ranged from 451 to 456.5 tenge, selling from 457 to 460 tenge; in Shymkent, buying ranged from 455 to 456 tenge, selling from 457 to 458 tenge.
A similar trend is observed for the euro, which lost 5 tenge on the exchange over the day, falling to 526.84 tenge. In the capital's exchange offices, the euro was bought at 523 tenge and sold at 533 tenge; in Almaty, buying ranged from 521 to 530 tenge, selling from 530 to 538 tenge; in Shymkent, buying ranged from 526 to 530 tenge, selling from 530 to 532 tenge.
Experts from the Association of Financiers of Kazakhstan attribute the strengthening of the national currency to several factors: "The national currency was supported by the recovery of oil prices during the trading session and sales of foreign currency within the framework of the NBK's operations. A fundamental favorable factor is also the trade surplus." Additionally, analysts note that the inflation data published the day before, which slowed to a minimum in a year and a half, could have further improved the exchange rate expectations of market participants.