Dollar exchange rate dropped to 460 tenge

Tengrinews.kz — The dollar has dropped toward the 460 tenge mark in Kazakhstan trading. Over the past week, the US currency has depreciated by more than 5 tenge. Tengrinews.kz reports on the exchange rates established at KASE on August 18.
Following the day session on the Kazakhstan Stock Exchange (KASE), the weighted average dollar exchange rate stood at 460.13 tenge, down by 1.14 tenge. The National Bank's official rate for August 18 is 461.39 tenge per dollar.
Thus, compared to the trading results on August 11, the dollar has weakened by 5.61 tenge—from 465.74 to 460.13 tenge. This represents a decrease of approximately 1.2 percent.
Average dollar exchange rates at Almaty currency exchanges:

buy – 460.55 tenge;
sell – 462.84 tenge.

Average dollar exchange rates at Astana currency exchanges:

buy – 458.00 tenge on average;
sell – 465.00 tenge.

What is happening with the tenge
As a reminder, on July 24, the National Bank lowered the base rate from 17 to 16.75 percent per annum. National Bank Governor Timur Suleimenov stated that the decision was made after lengthy discussions. At the same time, he emphasized that further rate cuts are only possible if inflation continues to slow down.
Earlier, the National Bank reported that by the end of July, the national currency strengthened by 1.3 percent to 473.81 tenge per dollar. In the short term, tenge dynamics will depend on market expectations, quarterly tax payments, global market conditions, and changes in the geopolitical situation.