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The Kazakhstani tenge has experienced a significant strengthening, with the US dollar's value declining in the latest trading session on the Kazakhstan Stock Exchange (KASE). The average weighted rate for the dollar closed at 486.20 tenge, marking a decrease of 4.49 tenge.

This shift in currency valuation comes as the National Bank of Kazakhstan set the official exchange rate for the dollar at 491.29 tenge for March 16th.

Exchange Rates at Exchange Offices

Data from Kurs.kz indicates varying rates at exchange offices in Astana and Almaty. While specific averages fluctuate, the general trend reflects the dollar's depreciation observed on the stock exchange.

Economic Context and Future Outlook

This development follows the National Bank's recent decision to maintain the base interest rate at 18%. Previously, National Bank Chairman Timur Suleimenov commented on potential tenge strengthening due to rising oil prices. He also noted that economic scenarios did not anticipate a dollar depreciation to as low as 400 tenge.