US dollar rises by 6 tenge on KASE

Tengrinews.kz – The Kazakh tenge weakened against the US dollar during trading on July 23, with the national currency losing more than 6 tenge in value.
According to data from the Kazakhstan Stock Exchange (KASE), the weighted average exchange rate reached 538.64 tenge per dollar, an increase of 6.21 tenge compared to previous levels. Meanwhile, the official exchange rate set by the National Bank for July 23 stands at 531.96 tenge.
As reported by kurs.kz, exchange offices in Almaty are currently buying the dollar at around 536.19 tenge and selling it for 538.75 tenge. In Astana, the average buying rate is 533.64 tenge, with selling prices reaching 542.11 tenge.
In some exchange points across Kazakhstan, the dollar reportedly hit the 540 tenge mark on July 23.
Commenting on the fluctuations, Prime Minister Olzhas Bektenov recently addressed public concerns regarding a possible devaluation of the tenge. He emphasized that the exchange rate is determined solely by market forces.

"There is no interference from the National Bank. According to our estimates and those of leading experts, there are currently no conditions that would cause a sharp weakening of the tenge," Bektenov stated.