The tenge came under pressure again in the middle of this week: at the close of trading on the Kazakhstan Stock Exchange (KASE), the weighted average dollar rate stood at 450.62 tenge, up 2 tenge over the day, while the euro rose by more than 3 tenge to 505.16 tenge, according to infohub.kz.
Recall that the dollar had been falling steadily in Kazakhstan earlier in the week, but by midweek the tenge had turned weaker.
As of 15:30, exchange offices in the country's major cities, according to data from Kurs.kz, set the following cash dollar buying and selling rates:
Astana: buying — 447 tenge, selling — 454 tenge;
Almaty: buying — 446.1 to 452 tenge, selling — 452 to 453.5 tenge;
Shymkent: buying — 450.5 to 451.5 tenge, selling — 452.5 to 453 tenge.
The euro also gained more than 3 tenge over the day. Its weighted average rate as of 15:30 today is 505.16 tenge.
Meanwhile, exchange offices across the country set the following cash euro buying and selling rates:
Astana: buying — 500 tenge, selling — 510 tenge;
Almaty: buying — 497 to 504.5 tenge, selling — 505 to 508 tenge;
Shymkent: buying — 498 to 504.5 tenge, selling — 506 to 508 tenge.
We previously reported that the National Bank of Kazakhstan will continue to adhere to a flexible tenge exchange rate, which allows the economy to adapt to external changes and prevents the accumulation of macroeconomic imbalances.