The currency is plummeting again! Experts warn that the recent devaluation of a neighboring currency is dragging down the national currency, threatening the financial stability of citizen...

Astana. December 12. KAZAKHSTAN TODAY - The tenge has once again started to decline, as the currency of Kazakhstan responds to the devaluation of the ruble. Wednesday's session for the dollar ended at a level of 517.74 tenge, analysts from Alpari report.

Compared to last week's levels, the tenge is noticeably stronger, but the current values are still far from the weighted averages. The new surge in the weakening of the Russian ruble has impacted the trajectory of the tenge. This is inevitable due to the trade and economic ties between the countries. During such significant fluctuations in the exchange rate, the issue of the sufficiency of foreign currency supply in the KASE market becomes very apparent. The National Bank is doing everything possible, but the effect is insufficient," experts note.

According to analysts, "the weakening of the tenge in December 2024 will lead to a decline in the well-being of citizens in Kazakhstan."

Brent crude oil rose to $73.65 on Thursday.

The risk appetite appears moderate. Expectations regarding fluctuations in foreign currency rates for Thursday are as follows: the US dollar will remain in the range of 515-525 tenge, the euro - 540-550 tenge, the ruble - 5.00-5.10 tenge, and the Chinese yuan - 71-72 tenge," Alpari reported.

As of 10:50 AM, the exchange rates in Almaty for buying/selling currency are 520-522/522-528 tenge per dollar.