The weighted average dollar rate fell to 447.14 tenge on the Kazakhstan Stock Exchange (KASE) at the end of the working week, a drop of more than 4 tenge in a single day, while the euro shed 7 tenge over the same period to reach 500.15 tenge, the website infohub.kz reports.
Last Thursday the exchange rate for the dollar stood at 453.71 tenge. It declined gradually over the course of this week, and the trend gathered pace on Friday.
According to data from the Kurs.kz portal, currency exchange offices in the country's major cities set the following cash dollar buying and selling rates at 15:30 today: Astana — buying at 446 tenge, selling at 453 tenge; Almaty — buying from 442.7 to 448.3 tenge, selling from 448.5 to 451.5 tenge; Shymkent — buying from 447 to 448.1 tenge, selling from 448.5 to 449.5 tenge.
The euro fell even further, losing 7 tenge in a day. Its weighted average rate stood at 500.15 tenge as of 15:30 today. Exchange offices across the country set the following cash euro buying and selling rates: Astana — buying at 499 tenge, selling at 509 tenge; Almaty — buying from 494 to 504.5 tenge, selling from 502 to 509 tenge; Shymkent — buying from 498 to 501 tenge, selling from 503 to 509 tenge.
"Among domestic factors, support may have come from foreign currency sales by the National Bank of Kazakhstan, exporters and quasi-state sector entities. Among external factors, rising oil prices and a weaker dollar index provided additional support for the tenge," the Association of Financiers of Kazakhstan said.
Earlier, analysts said the tenge could remain strong at least until February 2027, partly because of dollar sales from the National Fund. In October, the national currency depreciated by 3% to 453.77 tenge per dollar.