Tenge drops to new record low of 312.65 per US dollar

    Kazakhstan’s national currency dropped to a new record low of 312.65 tenge per US dollar during the morning trading session on the Kazakhstan Stock Exchange (KASE) on November 9.
    The tenge's exchange rate on November 6 was 307.53 tenge per dollar.
    No transactions were carried out in euros during the morning trading session.
    The average rate for the tenge was 186.8 tenge per US dollar in July.
    The Kazakh National Bank said on November 5 that it will minimize its intervention in the currency market in order to maintain its own and the National Fund’s gold-exchange assets.
    As a result, the exchange rate fell sharply from 298.92 tenge per dollar on November 5 to 307.53 tenge per dollar on November 6, according to Akipress.