NUR-SULTAN – The average daily trading volume increased from $96.4 million to $118.6 million for the month at the Kazakhstan Stock Exchange (KASE), reported the bank’s press service on July 1.
Kazakhstan’s National bank will continue to comply with the flexible exchange rate regime. Photo credit: egov.kz
According to the bank, the total trading volume in July reached $2.4 billion.
“By the end of the month, the tenge exchange rate changed by 1.5 percent to 477 tenge per U.S. dollar,” reads the statement.
The foreign exchange market was supported by the sales of foreign exchange earnings by quasi-public entities through second-tier banks and averaged $543.9 million.
In July, the bank did not make currency interventions, nor did it conduct operations to buy or sell foreign currency for pension assets of the Unified Accumulative Pension Fund (UAPF), and other funds held in trust.
The bank will continue to adhere to the flexible exchange rate regime, as the volatility of the tenge will depend on geopolitical changes and the situation on world markets.
