BAKU, Azerbaijan, January 4. The dynamics of the Kazakh tenge will depend on changes in the geopolitical scenario and situation in the world markets in the future, Trend reports citing the National Bank of Kazakhstan (NBK).
"According to the results of December, tenge exchange rate strengthened by 1.3 percent, to 462.66 KZT/1 USD. The average daily trading volume on the Kazakhstan Stock Exchange increased from $132 million to $141 million over the month. The total trading volume amounted to $2.95 billion," NBK said.
The sales of foreign exchange earnings by entities of the quasi-public sector during the past month amounted to about $328.7 million. Companies of the quasi-public sector independently carry out sales in the foreign exchange market through second-tier banks.
"The sales of foreign currency exchange to ensure the transfers from National Fund in the republican budget amounted to $461 million in December. The share of sales from the National Fund amounted to 16 percent of the total trading volume, not more than $31 million per day," the bank said.