ASTANA, Kazakhstan, February 2. Kazakhstan's tenge exchange rate strengthened by 1.4 percent to 448.17 tenge per $1 in January 2023, Trend reports, citing the National Bank of Kazakhstan.
Overall, the average daily trading volume on the Kazakhstan Stock Exchange during the month decreased from $176 million to $172 million. The total trading volume was $3.6 billion.
Sales of foreign currency to ensure transfers from the National Fund to channel funds to the republican budget amounted to $1.05 billion in January.
The share of sales from the National Fund amounted to 29 percent of the total trading volume and no more than $50 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 January continued to purchase foreign currency at exchange trading, the total amount of which amounted to $200 million, or about 6 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 $20 million in January.
The National Bank did not conduct foreign exchange interventions in January.