U.S. dollar reaches historic high in Kazakhstan

Exchange offices of Kazakhstan sell dollar for 301 tenge

Baku. 5 November. REPORT.AZ/ Dollar in Kazakhstan reached historic high. Report informs referring to RIA Novosti, tenge rate in the morning on the Stock Exchange constituted 298.92 tenge per dollar. Now the exchange offices of Kazakhstan sell dollar for 301 tenge.

Day before the average rate of the dollar on the exchanges amounted to 284.28 tenge.

Thus, the tenge has crossed the minimum level fixed by September 16 (284.6 tenge per 1 US dollar).

This last transactions at the morning session on Thursday were made on 300 tenge per dollar.

Trading volume amounted to 100.8 mln USD, which is by 10.3 mln USD more than yesterday morning.

Currently, the exchange offices of Almaty sell dollar by an average of 12-13 tenge more than the previous day, when the dollar was sold at 288-289 tenge.

On August 20, 2015 Kazakhstan launched a new monetary policy based on free floating tenge, and canceled the currency corridor. On this news the exchange rate of the Kazakh national currency fell to 255.26 tenge per dollar, which is 26% per day. Kazakh President Nursultan Nazarbayev said that there was no alternative: a free rate fixing will restore the competitiveness of the economy and maintain reserves.

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