“From November 15 to 28, the National Bank conducted currency interventions. The volume of currency sales at the end of the month amounted to $1.047 billion,” reads the report.
The interventions were carried out to prevent destabilization in the foreign exchange market, smooth out excessive volatility of the tenge exchange rate and ensure the supply of currency.
Currency sales from the National Fund to ensure transfers to the republican budget in November amounted to $1.26 billion. The share of sales from the National Fund amounted to 23% of the total trading volume and no more than $60 million per day.
At the end of November, the tenge exchange rate weakened by 5% to T512.52/$1. The average daily trading volume on the Kazakhstan Stock Exchange for the month decreased from $278 to $262 million. The total trading volume amounted to $5.5 billion.
Photo source: picture from an open source