ASTANA, Kazakhstan, September 9. Dutch ING, a renowned financial institution, predicts that one US dollar would equal 475 Kazakh tenge in the third quarter and 485 in the fourth quarter of 2024, Trend reports.
However, by the end of 2025, according to ING economists, the tenge would have gradually lost value compared to the US dollar.
Thus, according to the estimate, one US dollar will be worth 480 tenge in the first and second quarters, 485 tenge in the third, and 490 tenge in the fourth quarters.
Nevertheless, the biggest change is expected in the fourth quarter of 2026, when one dollar will be worth 500 tenge.
Meanwhile, Kazakhstan's tenge exchange rate weakened by 1.6 percent to 481.61 tenge per $1 in August 2024. The average daily trading volume on the Kazakhstan Stock Exchange increased from $170 to $210 million over the month. The total trading volume amounted to $4.4 billion.
Sales of foreign currency to ensure transfers from the National Fund to channel funds to the republican budget amounted to $546 million in August 2024. The National Fund's share of sales amounted to 12 percent of the total trading volume, or no more than $26 million per day.