ASTANA, Kazakhstan, November 16. The volume of trading in the money market on the Kazakhstan Stock Exchange (KASE) amounted to 292 trillion tenge (about $629 billion) from January through October 2023, Trend reports.
This figure increased by 53.5 percent compared to the same period in 2022.
Compared to the previous ten-month period (from March through December) in 2022, trading volume increased by 48 percent.
Trading volume in all market sectors amounted to 326.2 trillion tenge (about $714.9 billion) from January through October. This figure increased by 52.2 percent compared to the same period in 2022.
Kazakhstan's national currency, the tenge, was launched on November 15, 1993. The Kazakhstan Interbank Currency currency was established on November 17, 1993, to organize and grow the national foreign currency market, and was later renamed the Kazakhstan Stock Exchange.
Since its inception, KASE has been Kazakhstan's sole trading platform for the stock, foreign currency, and money markets.
Kazakhstan has prioritized the development of its stock market.
Kazakhstan has two stock exchanges: the Kazakhstan Stock Exchange (KASE) and the Astana International Financial Center (AIX).
On September 1, President Tokayev said that the two stock exchanges largely duplicate each other, and sometimes even compete with each other, which is redundant for the country's financial system. In order to increase the capacity and attractiveness of the domestic market, it was decided to work on potentially combining the two exchanges into a single management.
Stay up-to-date with more news at Trend News Agency's WhatsApp channel
