ASTANA, Kazakhstan, August 13. Dutch ING, one of the leading financial institutions, forecasts that one US dollar will equal 475 Kazakh tenge in the third quarter, 480 Kazakhstan tenge in the fourth quarter of 2024, Trend reports.
At the same time, ING economists predict that the tenge will slowly lose value against the US dollar by the end of 2025.
Thus, according to the estimate, one US dollar will be worth 470 tenge in the first quarter, 475 tenge in the second, 480 tenge in the third, and 490 tenge in the fourth quarter of 2025.
However, the most substantial shift is anticipated by the end of the fourth quarter of 2026, when one dollar is estimated to be worth 500 tenge.
According to the National Bank of Kazakhstan, Kazakhstan's tenge exchange rate weakened by 0.5 percent to 474.15 tenge per $1 in July 2024.
Sales of foreign currency to ensure transfers from the National Fund to channel funds to the Republican budget amounted to $506 million in July 2024.
The National Fund's share of sales amounted to 14 percent of the total trading volume, or no more than $23 million per day.
