Analysts: National Bank Could Stop Lowering Base Rate
Photo: Pixabay.com
The tenge-to-dollar exchange rate has weakened by more than ten percent since the beginning of the year:
Yesterday's trading on KASE closed at 500.42; its current rate is 510-518 tenge in exchange offices.
Financial analysts caution that the drop could prompt the National Bank to stop easing monetary policy.
In its latest market review, the Association of Financiers of Kazakhstan (AFK) notes that the tenge rate has passed the "psychological mark" – 500 per dollar.
The drop occurred amid falling oil prices and the fall of the Russian ruble.
The strong weakening of the exchange rate (by 10.1% since the beginning of the year) removes from the agenda the possibility of resuming the cycle of reducing the base rate at tomorrow’s meeting of the National Bank of the Republic of Kazakhstan,
say AFK analysts.
The National Bank may intervene to support the tenge.
Original Author: Nikita Drobny
Latest news
- Kazakhstan’s People’s Party Gets New Leader Ahead Of Kurultai Elections
- Kazakhstan To Check All Plastic Surgery Clinics After Patient Deaths
- Kazakhstan Proposes Extending Beef Export Limits For Another Six Months
- Almaty To Open Public Debate On Ecology In New Master Plan
- Kyrgyzstan Gasoline Shortage Raises Smuggling Risk For Kazakhstan
- Kazakhstan Meets Most Food Needs But Import Gaps Remain
- Kazakhstan May Require Younger Students To Hand In Smartphones During Classes
- Is Kazakhstan’s New Adilet Party Entering Atameken’s Field With Its Own Business Council?
- National Bank Says Digital Tenge Is Helping Kazakhstan Track Public Spending
- Kazakhstan Made New Tenge Bills Smaller To Fit Wallets And Cut Costs
- Kazakhstan Could Host One-Gigawatt AI Data Center From Singaporean Investor
- Kazakhstan Says Gas Supplies Are Stable After Karachaganak Output Cut
- Every Child in Kazakhstan Has Earned $370 From the National Fund
- UAE and Kazakhstan Sign Mutual Driver's License Recognition Deal
- Kazakhstan Updates Subsidies for Green Vehicle Producers
- West Kazakhstan To Spend Billions On Waste: What Will Change By 2030?
- EAEU May Extend Zero Fuel Duties as Russian Refineries Struggle
- Kazakhstan Bans Electric Scooters From Sidewalks
- Open Competition Now Required for Airport Commercial Space in Kazakhstan
- Kazakhstan Completes Key Drilling Stage for Caspian Underwater Internet Cable
