Kazakh tenge strengthens in February
Baku, Azerbaijan, Feb. 29
By Elena Kosolapova - Trend:
Kazakhstan's national currency tenge strengthened against US dollar and euro in February.
The official exchange rate of tenge strengthened from 364.79 KZT/$1 on the last day of January to 349.82 KZT/$1 on the last day of February, according to Kazakhstan's National Bank.
The maximum rate of Kazakhstan's national currency during this month was observed on Feb. 24 - 348.69 KZT/$1, the minimum rate - on Feb. 4 - 375.25 KZT/$1.
The rate of tenge against euro increased from 397.88 tenges per euro on the last day of January to 385.36 tenges per euro on the last day of February.
The exchange rate of tenge began to decline after the country's National Bank switched to a floating rate in August 2015. As a result, the exchange rate of tenge against dollar halved in six months. The minimum exchange rate of tenge against dollar was recorded on Jan. 22 (383.91 KZT/ USD).
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