Kazakh tenge weakens 9.85 tenge against dollar on KASE
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The Kazakh tenge weakened sharply on July 24, with the dollar rising 9.85 tenge to 476.07 tenge on the Kazakhstan Stock Exchange (KASE). The National Bank had set the official rate at 465.74 tenge for the day. The Russian ruble and Chinese yuan also strengthened against the tenge.
Trading Results
The dollar's average weighted rate on KASE reached 476.07 tenge, up 9.85 tenge from the previous close, according to Stan.kz. The ruble rose 0.13 tenge to 6.08 tenge, and the yuan gained 1.50 tenge to 70.25 tenge. Vlast.kz reported a slightly different dollar rate of 475.98 tenge, with a decline in trading volume to $491.63 million.
Exchange Rates at Bureaus
In Almaty exchange offices, the dollar was bought at an average of 473.82 tenge and sold at 476.81 tenge. In Astana, buy rates averaged 470.97 tenge and sell rates 477.97 tenge. Nationwide, the dollar traded in the range of 472–477 tenge, the euro at 540–546 tenge, and the ruble at 5.69–5.83 tenge.
Oil Prices Rise
Global oil prices increased on July 24. Brent crude futures rose 0.37% to $101.06 per barrel, while West Texas Intermediate (WTI) gained 1.9% to $91.20 per barrel, according to Zakon.kz.
What's Next
The National Bank's next rate decision will be closely watched after it cut the base rate to 16.75% on July 24. It remains unclear whether the tenge will stabilize or continue weakening amid global oil price fluctuations and domestic monetary policy adjustments.
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Kazakh tenge weakens 9.85 tenge against dollar on KASE
