Baku, Azerbaijan, Nov. 6
By Elena Kosolapova - Trend:
Kazakhstan's national currency, the tenge, fell to a record low of 307.53 tenges per US dollar during the morning trading session at the Kazakhstan Stock Exchange (KASE) on Nov. 6, KASE announced on its website.
The tenge's rate on Nov. 5 was 298.92 tenges per dollar.
The average rate of the tenge during Q3 2015, according to the National Bank of Kazakhstan, was 216.2 tenges per dollar.
No transactions were carried out in euros during the morning trading session on Nov. 6.
By the session end, demand stood at 335.4 tenges per euro, with no bids.
Earlier, Kazakhstan's National Bank had said that it would minimize its participation in the currency market on Nov. 5 in order to maintain its own and the National Fund's gold-exchange assets.
In September and October 2015, the National Bank abandoned the transition to a free-floating tenge rate and started to sell currency instead.
Earlier, on Aug. 20, the National Bank abolished the currency corridor for the tenge and switched to inflation targeting and a free floating rate to ensure the implementation of a new monetary policy.
As a result, the tenge lost some 30 percent of its value.