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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January 4, 2023
Inflation increased to 20.3% in December, above November’s 19.6%, the 12th straight month of increase.
December 23, 2022
Inflation rose to 19.6% in November, below October’s 18.8%, the 11th straight month of increase.
December 5, 2022
At its latest meeting on 5 December, the National Bank of Kazakhstan (NBK) raised its base rate by 75 basis points to 16.75%, following its decision to increase its rate by 150 basis points to 16.00% at the end of October.
November 15, 2022
According to a preliminary reading, GDP growth weakened to 2.8% year on year in January–September, down from 3.6% in January–June.
November 1, 2022
Inflation rose to 18.8% in October, above September’s 17.7%.