Baku, Azerbaijan, Oct. 9
By Leman Zeynalova - Trend:
The current exchange rate of Kazakhstan's national currency reflects the balance of supply and demand of foreign currency, Trend has learned from the Department for Protection of the Rights of Consumers of Financial Services and External Communications of the National Bank of Kazakhstan.
Presently, the situation in the domestic foreign exchange market is stable, the National Bank (NBK) said.
"The official exchange rate of the tenge against the US dollar strengthened from 380.93 tenge on September 12, 2018, to 352.54 tenge on September 24, 2018. On October 1, the official rate weakened to 363.07 tenges per US dollar. Under conditions of a floating exchange rate, fluctuations can go both ways," the bank said.
In general, the National Bank noted that, under the conditions of the floating regime, tenge's exchange is determined by a combination of internal and external factors.
"The external factors affecting tenge's exchange include the exchange rate of the Russian ruble, oil prices, geopolitical situation in the world. The internal factors include the state of the balance of payments, inflation rate, base rate of the NBK, periods of tax payments of exporting companies, the pace of budget implementation," the bank added.
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