InfoHub Logo

The Kazakh tenge saw a significant depreciation on February 20th, as the US dollar's exchange rate surged on the Kazakhstan Stock Exchange (KASE). The average weighted dollar rate reached 494.66 tenge by the end of the day's trading session, marking an increase of 4.89 tenge.

This fluctuation in currency value has raised concerns about the country's economic stability.

National Bank's Official Rate vs. Market Trading

While the National Bank of Kazakhstan set the official exchange rate at 489.17 tenge per dollar for February 20th, the actual trading on the KASE indicated a higher market value for the US currency.

Exchange Rates at Currency Exchange Points

Data from kurs.kz reveals that currency exchange points in Astana and Almaty also reflected higher rates for the dollar, though specific figures for these locations were not detailed in the report.

Background: Monetary Policy Measures

This development follows the National Bank's decision on January 23rd to maintain the base interest rate at 18%. This measure was implemented to curb inflationary pressures and slow down price increases. National Bank Chairman Timur Suleimenov indicated that this rate might remain unchanged for the next six months. He also stated the bank's readiness to further tighten monetary policy if these measures prove insufficient.