US dollar drops sharply in Kazakhstan

Tengrinews.kz – The US dollar weakened noticeably on Kazakhstan’s currency market on 2 December, according to KASE trading data.

By the end of daytime trading on the Kazakhstan Stock Exchange, the weighted average exchange rate reached 508.20 tenge, down 4.8 tenge from the previous session. The National Bank’s official rate for 2 December stands at 513.45 tenge per dollar.

According to kurs.kz, the current average exchange rates at currency exchange offices are as follows:

Almaty
• buying – 508.09 tenge
• selling – 510.63 tenge

Astana
• buying – 506.44 tenge
• selling – 512.44 tenge

On 28 November, the National Bank decided to keep the base rate unchanged at 18 percent. Following that decision, the dollar saw a sharp decline on the market.