Exchange rate of Kazakh currency down by 2.6%

By  Trend

Exchange rate of Kazakhstan’s national currency tenge fluctuated within the range of 332.73-341.31 per US dollar in June 2018, according to the National Bank of Kazakhstan.

The exchange rate of tenge against the US dollar stood at 341.08 tenges, weakening by 3.6 percent over the month, Kapital.kz reported citing the regulator.

Tenge has dropped by 2.6 percent since early 2018, according to the National Bank’s data.

The total volume of operations with KZT/USD amounted to $16.9 billion (up by 17.9 percent over the month) in June 2018, including the volume of exchange trades on the Kazakhstan Stock Exchange, which stood at $3 billion.

The volume of operations of one subsidiary bank related to hedging of equity capital from currency risks amounted to $9 billion, an increase of 10.5 percent compared to the previous month. This operation does not affect the volume of demand or supply of foreign currency in the domestic foreign exchange market.

In June 2018, the population bought foreign currency in cash equivalent to 159.3 billion tenges on a net basis. The major part of expenditures accounted for the purchase of US dollars - 50.1 percent, or 79.9 billion tenges, Russian rubles - 36.2 percent or 57.7 billion tenges, euro - 12.9 percent, or 20.6 billion tenges.