Baku, Azerbaijan, Aug. 13
By Leman Zeynalova - Trend:
The exchange rate of Kazakhstan's national currency (tenge) decreased to 363.15 for a US dollar or 1.8 percent compared to Aug. 12, Kazakh media reported referring to the National Bank of Kazakhstan.
The main reasons for the weakening of developing countries' currencies, including tenge, are geopolitical tensions, as well as sanction policies of the US against a number of developing countries (Russia, China, Turkey).
"There is a general strengthening of the US dollar in the global markets due to expectations of an increase in the interest rates of the Federal Reserve System (FRS) of the USA against the background of positive trends in the economy.These factors together formed a trend that facilitates the flow of capital from emerging markets to developed ones," the regulator's message reads.
The National Bank stated that, if necessary, the bank is ready to implement interventions aimed at smoothing significant and destabilizing short-term fluctuations in tenge's rate.
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