After a noticeable strengthening of the tenge the previous day, the US dollar resumed its rise. Following trading on July 15, the weighted average dollar exchange rate on the Kazakhstan Stock Exchange (KASE) reached 470.53 tenge, increasing by 1.59 tenge compared to the previous trading day. This was reported by Qazaqyia.kz citing Kursiv Media.

During trading, the dollar traded in the range of 466.25 to 474.50 tenge. The closing rate settled at 473 tenge per dollar.

The trading volume of the US currency reached $418.6 million, with 1,299 transactions concluded.

At the same time, the weighted average dollar exchange rate as of 15:30 was 469.71 tenge. This figure will become the official exchange rate of the National Bank for July 16.

According to the kurs.kz service, in exchange offices in Astana, the maximum dollar selling rate at 17:06 reached 475 tenge. A similar maximum selling rate was recorded in Almaty — 475 tenge.

Recall that on July 14, the dollar fell by 7.39 tenge in one day.

Reasons for the dollar exchange rate change

According to experts, fluctuations in the dollar exchange rate are related to the situation in global markets and internal economic factors. The strengthening of the tenge was short-lived, and the dollar resumed its rise. This could affect Kazakhstan's export revenues and the prices of imported goods.

Official exchange rate of the National Bank

The National Bank set the official dollar exchange rate for July 16 at 469.71 tenge. This indicator was determined based on the weighted average rate as of 15:30. The official rate serves as a benchmark for commercial banks and exchange offices.

Situation in exchange offices

In exchange offices in Astana and Almaty, the maximum dollar selling rate reached 475 tenge. This is higher than the official rate, as exchange offices add their margin. The buying rate is usually lower.

Conclusion

The rise in the dollar exchange rate may be short-term, but volatility in the market persists. Investors and entrepreneurs should closely monitor changes in the foreign exchange market.