ASTANA, Kazakhstan, January 18. The volume of trading in foreign currencies on the Kazakhstan Stock Exchange (KASE) amounted to 29.7 trillion tenge (about $65.7 billion) from January through December 2023, Trend reports.
This figure increased by 42.9 percent compared to the same period in 2022.
Meanwhile, the total trading volume across all market sectors was 410.7 trillion tenge (about $907.4 billion). In comparison to the same period in 2022, this statistic climbed by 57 percent.
Furthermore, on November 15, 1993, Kazakhstan's national currency, the tenge, was introduced. The Kazakhstan Interbank Currency Exchange, which was later renamed the Kazakhstan Stock Exchange, was founded on November 17, 1993, to organize and strengthen the national foreign currency market.
KASE has been Kazakhstan's exclusive trading platform for the stock, currency, and money markets since its founding.
Kazakhstan has made the growth of its stock exchange a top priority.
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.
