The Kazakh tenge continues to show resilience despite geopolitical uncertainty and volatility in global markets. On Friday, trading on the Kazakhstan Stock Exchange (KASE) closed with the US dollar at 510.08 tenge, reflecting a stable and confident performance by the national currency, DKNews.kz reports.
Global markets remain emotionally charged. Oil prices are volatile, influenced by geopolitical risks and incoming US economic data. Brent crude rose to $63.48 per barrel, providing moderate support for emerging market currencies, including the tenge. Overall investor sentiment toward risk remains cautiously positive.
A calm week for the currency market
The past week passed without surprises for the tenge. The USD/KZT pair traded within a narrow range, showing no sharp impulses or speculative pressure.
At the start of the week, the dollar stood at 505.5 tenge, climbed to a weekly high of 512.8 tenge on Thursday, and then eased back to around 509.9 tenge per dollar by the end of the week. The total fluctuation amounted to about 7 tenge, while the average exchange rate for the period was also 509.9 tenge.
Such movement points to a well-balanced market, with neither demand nor supply exerting noticeable pressure.
Liquidity remains healthy
Trading activity has normalized, with the average daily turnover reaching approximately $286 million. This indicates sufficient foreign currency liquidity and no signs of shortage in the market.
External factors were moderately restraining. The US dollar index strengthened slightly, but this effect was offset by the performance of the Russian ruble. The ruble appreciated against the dollar, reducing regional demand for USD and helping the tenge remain within a sideways trading corridor.
Current exchange levels reflect a state of market equilibrium, where participants have adapted to prevailing global and domestic conditions.
What to expect next
For Monday, analysts expect foreign currencies to trade within the following ranges:
- US dollar - 505–515 tenge
- euro - 590–605 tenge
- Russian ruble - 6.35–6.50 tenge
- Chinese yuan - 73–74 tenge
If no major external shocks emerge, the tenge is likely to continue trading within this range, maintaining its stability.
Against a backdrop of global uncertainty, the tenge looks steady and controlled. Liquidity remains ample, market balance is intact, and there are no signs of excessive pressure. For businesses and households alike, the national currency continues to serve as a reliable reference point in an otherwise volatile global environment.
