Kazakh national currency drops against US dollar

By Trend

Weighted average US dollar rate amounted to 389.39 tenge during the morning session of Kazakhstan’s Stock Exchange (KASE) on Nov.1, Trend reports with reference to KASE.

Thus, compared to the morning session of October 31, 2019 (388.65 tenge per dollar), Kazakhstan’s national currency decreased in price by 0.74 tenge.

Maximal exchange rate in the exchange offices of Nur-Sultan is 390.2 tenge, of Almaty is 391.2 tenge.

Official rate of the Kazakhstan’s National Bank equals 388.67 tenge per dollar as of November 1, 2019.

The official dollar to tenge rate is set based on results of Kazakhstan Stock Exchange session of the previous day

Established in 1993, the Kazakhstan Interbank Currency Exchange was assigned the role of the operator of foreign currency trading; a few years later it was renamed The Kazakhstan Stock Exchange (KASE).

Since the moment of its foundation, KASE has been the only exchange in Kazakhstan operating the stock and currency markets, an integral part of the financial market's infrastructure and it occupies an important position in the country's economy.