ASTANA, Kazakhstan, May 14. Based on ING Group's latest economic insights for May 2025, Kazakhstan's currency has appreciated, decreasing from the 520-525 tenge per dollar range in mid-April to 510-515 tenge by May 13, Trend reports via ING Group.
“This movement is in line with forecasts, but the latest phase of strengthening was triggered by the unexpected positive outcome of trade talks between the U.S. and China,” the statement says.
According to ING Group, based on data from Kazakhstan's National Bank, the total volume of foreign currency sales by the sovereign fund and the central bank in May is expected to reach $1.3 billion, which is in line with April's level.
ING has revised its forecasts for Kazakhstan's fiscal and external balance due to changes in expectations regarding oil prices, but still expects that foreign currency sales by government bodies will help partially offset negative external dynamics in 2025.
ING Group (ING Groep N.V.) is a leading Dutch multinational banking and financial services corporation headquartered in Amsterdam. Established in 1991 through the merger of Nationale-Nederlanden and NMB Postbank Group, ING traces its origins back to 1743. Today, it operates in over 40 countries, serving approximately 38 million customers
