Interventions of National Bank of Kazakhstan amounted to almost $1 billion in the foreign exchange market in March

Astana. April 1. KazTAG – Interventions of the National Bank amounted  to $990.5 million in the foreign exchange market in March, reports the National Bank of Kazakhstan.
The volume of foreign exchange interventions of the National Bank amounted to $990.5 million, or 29% of the total volume of exchange trading.
Sales of foreign currency to ensure transfers from the National Fund to the republican budget in March amounted to $890.9 million. The share of foreign exchange interventions of the National Bank and sales from the National Fund amounted to 55% of the total trading volume.
Tenge rate reached its historical maximum of KZT512.17/$1 on March 15, 2022, but  later against the backdrop of a correction in international financial markets and a period of tax payments, tenge rate began to strengthen and on March 31, following the results of trading on KASE, the rate lowered to T467, 03/$1, having strengthened by 5.7% since the beginning of March.

Photo source: picture from an open source