Kazakh national currency against US dollar rate breaks three-month record
BAKU, Azerbaijan, Jun. 3
By Nargiz Sadikhova – Trend:
Following the Kazakhstan Stock Exchange (KASE) session at 11am on June 3, weighted average US dollar to Kazakh tenge rate was set up at 396.77 tenge per 1 dollar, Trend reports with reference to KASE.
Compared to the data as of June 2, tenge increased in price by 6.02 tenge against the US dollar. This is also the first time in three months since the Brent prices dropped, that the price for 1 dollar is less than 400 tenge.
The maximal exchange rate in Nur-Sultan exchange offices is 401 tenge per dollar, which corresponds to that in Almaty city exchange offices.
The official exchange rate set by Kazakhstan’s National Bank for June 3, 2020, is 402.37 tenge per one US dollar. Official rate of Kazakhstan’s National Bank is set daily based on the KASE session results of the previous day.
On the morning of March 9, 2020, Brent crude plunged 25 percent dropping to its lowest since February 2016 and recording the biggest one-day percentage declines since Jan. 17, 1991.
Follow the author on twitter: @nargiz_sadikh