Exchange Rate in Kazakhstan
Kazakhstan - Exchange Rate
Tenge recovers lost ground in May
Kazakhstan’s tenge (KZT) strengthened notably against the U.S. dollar in May and at the start of June, after having sunk to a record low in March. The currency ended 5 June at KZT 400 per USD, marking a 6.1% appreciation over the same day in May. That said, the currency was still down 4.2% on a year-to-date basis and 3.8% year-on-year after March’s sharp fall amid plunging oil prices and downbeat investor sentiment.
The strengthening largely reflects recent reserves selloffs by the central bank and state-owned entities to transfer money to the government, which puts upward pressure on the currency. The central bank sold over USD 1.0 billion from the rainy-day National Fund in May. In addition, a recent rise in oil prices has also relieved some downward pressure on the currency.
Our panel sees the tenge ending 2020 at 433 per USD and 2021 at 429 per USD.
Kazakhstan - Exchange Rate Data
|Exchange Rate (vs USD)||340.6||333.7||332.8||384.3||382.9|
5 years of economic forecasts for more than 30 economic indicators.
Kazakhstan Exchange Rate Chart
|Exchange Rate||382.9||0.32 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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September 2, 2021
Consumer prices rose 0.47% in August over the previous month, after the 0.67% increase recorded in July.
August 13, 2021
Industrial output grew 8.2% year-on-year in July (June: +1.7% yoy).
August 13, 2021
According to a preliminary reading, GDP expanded 2.3% year-on-year in the January–June period, rebounding from the 1.4% contraction recorded in Q1.
August 2, 2021
Consumer prices increased 0.67% over the previous month in July, coming in below the 1.10% increase seen in June.
July 26, 2021
At its meeting in late July, the National Bank of Kazakhstan (NBK) decided to hike the base rate by 25 basis points to 9.25%, keeping the corridor at plus or minus 1.0 percentage point.