US dollar sharply drops in Kazakhstan

Tengrinews.kz – The US dollar saw a notable decline on Kazakhstan’s currency market on October 29.

According to the results of daytime trading on the Kazakhstan Stock Exchange (KASE), the average weighted exchange rate of the US dollar stood at 530.15 tenge, down 5.21 tenge from the previous session. The official rate set by the National Bank for October 29 is 535.83 tenge per dollar.

Data from kurs.kz show the following average rates at currency exchange offices:

• Almaty: buying – 528.18 tenge, selling – 531.10 tenge;
• Astana: buying – 526.58 tenge, selling – 532.60 tenge.

Earlier this month, on October 10, the National Bank of Kazakhstan raised the base rate from 16.5% (with a ±1 percentage point corridor) to 18%, citing efforts to maintain price stability and curb inflationary pressure.