The tenge strengthened to 453.48 per dollar following trading on the Kazakhstan Stock Exchange. Experts note that future withdrawals from the National Fund for social needs will continue to restrain the dollar's growth. This was reported by Qazaqyia.kz citing Kursiv Media.
During trading on the Kazakhstan Stock Exchange, the dollar exchange rate stood at 453.48 tenge, down 1.52 tenge or 0.33% over the day. The weighted average trading rate fell by 3.3 tenge at once to 453.6 tenge.
Trading volume amounted to $258.8 million, with a minimum price of 452.5 tenge. Earlier, Freedom Broker experts noted that the news of allocating 1.5 trillion tenge from the National Fund for social needs until March 2027 curbed the dollar's upward trend.
Experts calculated that with such transfer volumes, each of the coming months would see about $800 million in sales. This amount will likely be accounted for separately from monthly transfers from the National Fund.
"Given that over the past five months the National Bank has been selling $200 million, theoretically one could expect about $1 billion in sales each month until the strong tax period in February. This could become another factor restraining the dollar's growth," the experts noted.
Recall that the President announced that 6.5 trillion tenge from the National Fund will be directed to infrastructure modernization in the coming years. In addition, this year and during the first two months of 2027, 1.5 trillion tenge must be provided for launching social projects.