ASTANA, Kazakhstan, June 3. Kazakhstan's tenge exchange rate weakened by 1.2 percent to 447.25 tenge per $1 in May 2024, Trend reports, citing the National Bank of Kazakhstan.
The average daily trading volume on the Kazakhstan Stock Exchange for the month increased from $234 to $251 million. The total trading volume was $5 billion.
Sales of foreign currency to ensure transfers from the National Fund to channel funds to the republican budget amounted to $800 million in May 2024.
The National Fund's share of sales amounted to 16 percent of the total trading volume, or no more than $40 million per day.
The National Bank kept buying foreign currency at exchange trading in May, totaling $500 million, or roughly 10 percent of the total market volume, in order to keep the foreign exchange share of pension assets of the Unified Accumulative Pension Fund (UAPF) at the level of 30 percent.
The National Bank did not conduct foreign exchange interventions in May.