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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July 25, 2022
At its latest meeting on 25 July, the National Bank of Kazakhstan (NBK) decided to raise its base rate by 50 basis points to 14.50%, following its decision to stand pat in early June.
July 14, 2022
Industrial output declined 1.3% compared to the same month a year earlier in June, which contrasted May's 3.1% increase.
June 15, 2022
Industrial output rose 3.1% compared to the same month a year earlier in May, which followed April's 1.2% increase.
June 1, 2022
Consumer prices increased 1.4% over the previous month in May, a smaller increase than the 2.02% increase recorded in April.
May 16, 2022
Industrial output rose 1.2% in year-on-year terms in April, which was a deterioration from March's 8.1% increase.