ASTANA, Kazakhstan, December 1. Kazakhstan's tenge exchange rate strengthened by 2.4 percent, to 458.24 tenge per $1 in November 2023, Trend reports, citing the National Bank of Kazakhstan.
Overall, the average daily trading volume on Kazakhstan Stock Exchange during the month increased from $155 million to $192 million. The total trading volume was $4.2 billion.
Sales of foreign currency to ensure transfers from the National Fund to channel funds to the republican budget and purchase shares of KazMunayGas JSC (national oil and gas company) amounted to $1.32 billion in November.
The share of sales from the National Fund amounted to 31 percent of the total trading volume and no more than $60 million per day.
In order to maintain the currency share of pension assets of the Unified Accumulative Pension Fund (UAPF) at the level of 30 percent, the National Bank in November continued to purchase foreign currency at exchange trading, the total amount of which amounted to $200 million or about 5 percent of the total market volume.
As part of increasing the foreign currency share of the assets of Kazakhstan Deposit Insurance Fund JSC (KDIF), the National Bank also purchased foreign currency in the amount of $70 million in November.
The National Bank did not conduct foreign exchange interventions in November.