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
- Air Astana and FlyArystan Fined for Submitting Inaccurate Aviation Fuel Data
- Chinese Tourist Arrivals in Kazakhstan Rose Sharply in 2025, Analysts Say
- New Tax Code Has Not Slowed Business Growth in Kazakhstan, MNE Says
- Kazakhstan Plans Sharp Increase in Minimum Wage
- Tax Authorities to Start Checking Mobile Transfers in Kazakhstan From April 15
- After Outcry Over Altyn-Emel, Stretch of Highway Cleared of Garbage
- Ministry of Finance to Withdraw Idle Funds From Accounts of State Companies
- Illegal Resource Extraction Stopped in Taldykorgan
- Fewer Apartments Are Being Bought in Astana as Market Slump Enters Third Month
- Government Criticizes Idea of Dog Tax in Kazakhstan
- Kazakhstan Records Lowest Neonatal Mortality Rate in Central Asia
- Kazakhstan Imposes Six-Month Ban on Cattle and Small Livinestock Exports
- Kazakhstan’s IT Market Slows After Years of Rapid Growth, but Salaries Keep Rising
- Why the Oil Price Spike Did Not Help Kazakhstan’s Budget Much, the Ministry Explained
- Why More Women in Kazakhstan Are Working Beyond the 40-Hour Week
- Drone Strikes on CPC Drag Down Kazakhstan’s Oil and Gas Output
- New Parking Rules Approved in Astana: How Much Will Drivers Pay and Who Is Exempt?
- Shell and Eni Replaced in Karachaganak Gas Plant Project
- Economist Calculates How Much Income Kazakhstanis Actually Keep
- Samruk-Kazyna Raises 3 Billion Yuan on AIX in Record-Low Panda Bond Deal
