ASTANA, Kazakhstan, August 14. The volume of trading in foreign currencies on the Kazakhstan Stock Exchange (KASE) amounted to 18.5 trillion tenge (about $38.5 billion) from January through July 2024, Trend reports.
This figure increased by 20.5 percent compared to the same period in 2023.
At the same time, compared to the previous seven-month period (from June through December 2023), trading volume decreased by 6.2 percent.
Meanwhile, the total trading volume across all market sectors was 221.6 trillion tenge (about $461.6 billion). In comparison to the same period in 2023, this statistic climbed by 12.9 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.
The expansion of Kazakhstan's stock market is a key objective for the country.
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.
