Dollar falls below 450 tenge in Kazakhstan as euro nears 500 tenge

The US dollar fell again below 450 tenge today on the Kazakhstan Stock Exchange (KASE), while the euro approached 500 tenge. NUR.KZ reported that exchange offices in major cities also lowered their rates.

By the end of the working week, the weighted average dollar rate on KASE had dropped to 447.14 tenge, a decline of more than 4 tenge within a day. The dollar had stood at 453.71 tenge last Thursday. The euro fell 7 tenge in a day to a weighted average of 500.15 tenge.

According to Kurs.kz data cited by NUR.KZ at 15:30, exchange offices in Astana bought dollars at 446 tenge and sold them at 453 tenge. In Almaty, buying rates ranged from 442.7 to 448.3 tenge. The Association of Financiers of Kazakhstan said that National Bank currency sales, exporters and KGS entities supported the tenge domestically, while rising oil prices and a weaker dollar index helped externally.