Exchange Rate in Kazakhstan
Kazakhstan - Exchange Rate (average of period)
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 (aop) Data
|Exchange Rate (vs USD, aop)||223.3||342.0||326.3||345.2||383.0|
5 years of economic forecasts for more than 30 economic indicators.
Kazakhstan Exchange Rate (aop) Chart
|Exchange Rate||382.9||0.32 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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October 14, 2021
Industrial output increased 4.7% compared to the same month a year earlier in September, which was above August's 1.9% increase.
October 1, 2021
Consumer prices rose 0.40% in September over the previous month, after the 0.47% increase recorded in August.
September 13, 2021
At its meeting in mid-September, the National Bank of Kazakhstan (NBK) decided to raise the base rate by 25 basis points to 9.50%, marking the second consecutive hike since late July after holding rates for eight successive meetings.
September 13, 2021
Industrial output expanded 1.9% in year-on-year terms in August, which followed July's 8.2% increase.
September 2, 2021
Consumer prices rose 0.47% in August over the previous month, after the 0.67% increase recorded in July.