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 Explains How Russians Who Fled Mobilization Can Be Deported
- Kazakhstan and Japan discuss hydrogen partnership with export potential
- Russia Thanks Tokayev for Initiative to Support Russian Language
- Almaty Could Restrict Cars Under Beijing-Style Anti-Smog Plan
- Tigers in Kazakhstan Are in No Rush to Breed
- What Changes Are Being Prepared Under the New Tax Code
- Alcohol and Tobacco Prices in Kazakhstan See Sharpest Monthly Rise in 15 Years — Analysts
- Middle East Conflict Will Not Lead to Higher Gasoline Prices in Kazakhstan — Minister
- Five Regions of Kazakhstan Face Higher Flood Risk This Spring
- Kazakhstan Ratifies Turkic States Civil Protection Deal
- Astana Enters Top 100 Safest Cities as Smart City Project Expands
- Almaty Cameras to Record New Driver Violations Starting March 12
- Kazakhstan Suspended 11 Polling Stations Abroad Due to Middle East Escalation
- Kazakhstan’s Foreign Ministry Comments on Disappearance of Citizen After South Korea Factory Fire
- ChatGPT Among AI Tools Recommended for School Lessons in Kazakhstan
- Missing Kazakh Woman Found in Vietnam Four Days Later
- Seven-Year-Old Kazakh Girl Returned From Georgia Following Six Months of Diplomatic Efforts
- Kazakhstan Plans to Rent 11 Helicopters for 22 Billion Tenge Ahead of the Fire Season
- Flights Delayed and Canceled at Astana Airport Due to Bad Weather
- More Than 8,500 Kazakhstanis Evacuated From the Middle East
