Tenge exchange rate: the dollar has never been so expensive

The value of the dollar is at a historic high, gradually picking up to 390 tenge.

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The official dollar rate for October 2 amounted to 388,47 tenge, an increase over the day of 48 tiyn.

This is the third time the value of American currency exceeded 388 tenge

So, on 4 September the rate was above this level at 28 tiyn. The next day, on 18 tiyn. This means that “American” is never expensive. Moreover, the results of the first transactions on the Kazakhstan stock exchange rate continued to move in the direction of the mark, 390, a rise of 27 tiyn.

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Since August, the tenge is trading in a very narrow corridor 387+-2 tenge, not leaving him even when significant external and internal events. This causes some professionals to talk openly about the fact that the national Bank has moved from a policy of free exchange rate.

Why the tenge is not hit? Someone secretly supported — the economist

Nevertheless, the tenge generally respond to “external stimuli”. Since October 1, crude oil prices fell. The main reason is the exposure level of production in Saudi Arabia. Against the background of lower prices went the additional pressure on the tenge, the national currency weakened to a new low.

The Euro is on the decline

While the dollar becomes more expensive, the value of the Euro decreases (the official exchange rate on October 2 – 423,12 tenge). The last time the Euro was cheaper in may. From the beginning, the rate decreased by 16.25 tenge (3.7 percent). However

the reason is not that tenge had become stronger, but rather that the background of the problems of the Eurozone (a decrease of economic growth rates) Euro weakens

on the world market.

If at the beginning of the year for 1 Euro it was necessary to give about 1.15 dollar, by early October, the rate fell to 1.09. The last time the Euro against the U.S. so low was estimated in the first quarter of 2017.

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As for the ruble, the official price fell back below 6 tenge. Course on 2nd of October of 5.97. Since mid-April, the Russian currency floats in the range of 5.9 and 6.1 tenge, only occasionally going for his lower limits. In the last few weeks have seen the following trend:

if the dollar rises, ruble falls. And Vice versa

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