Dollar exchange rate forecast for next month and year in Kazakhstan

Tengrinews.kz – Financial market experts in Kazakhstan have shared their forecasts for the dollar exchange rate, according to the Association of Financiers of Kazakhstan.

The study surveyed representatives from banks, insurance, and brokerage firms, as well as analysts and treasury specialists.

According to their projections:

• In one month, the dollar is expected to be at 513.9 KZT per USD.
• In one year, the rate could reach 551.2 KZT per USD.

This anticipated depreciation of the tenge is attributed to a downward revision of the expected average Brent crude price, which has been adjusted to $69.3 per barrel (previously $73.6). Experts cite an expected increase in global oil supply and a slowdown in the global economy as key factors.

For reference, Kazakhstan's state budget is based on an oil price of $75 per barrel.

Experts also shared their expectations regarding Kazakhstan's base interest rate, predicting it to settle at 14.5%, compared to last month's forecast of 14%.

In January, the National Bank decided to maintain the base rate at 15.25% per annum.