Dollar drops to 466.12 tenge on KASE, erasing Friday's gain
This digest was compiled by AI from multiple sources — links to the originals are below.
The tenge strengthened sharply on August 10, with the dollar dropping 3.56 tenge to 466.12 on the Kazakhstan Stock Exchange (KASE), more than erasing Friday's brief rise. The decline also pushed the euro and ruble lower against the Kazakh currency. The drop came after three days of tenge gains were interrupted by a modest dollar rebound at the end of last week.
The Dollar Drop
The weighted average dollar rate fell to 466.12 tenge on August 10, down 3.56 tenge from Friday's 469.68. The decline pushed the U.S. currency below its August 6 level of 467.71 tenge. The drop erased the nearly 2-tenge gain the dollar had posted at the end of last week, which had briefly interrupted a three-day slide.
Euro and Ruble Weakness
The euro slipped to 538.07 tenge, extending its recent decline. The Russian ruble lost 1.28%, falling to 5.6387 tenge. The broad-based tenge strength was reflected across all major trading partner currencies.
Resumed Decline
Monday's drop resumed a downtrend that saw the dollar fall from around 471 tenge earlier in the week to 467.71 by August 6. Friday's brief uptick of nearly 2 tenge proved short-lived, as the tenge rallied to erase the gain and push the rate below the prior low.
What's Next
The KASE will hold its next trading session on August 11, with market participants watching whether the tenge can hold below the 467 level. It remains unclear if the dollar's weakness reflects a sustained shift in sentiment or temporary technical factors.
1 source
Dollar drops to 466.12 tenge on KASE, erasing Friday's gain
