US dollar exchange rate declines in Kazakhstan

US dollar exchange rate declines in Kazakhstan

After a small jump, the US dollar exchange rate sees decline again. According to Kazakhstan Stock Exchange (KASE), the weighted average rate of US$1 stood at 430,87 tenge at the morning trading session. According to Kurs.kz, the US dollar in the currency exchange offices of Nur-Sultan and Almaty is now sold at around 432 tenge.

Experts say that the depreciacion of the US dollar was due to the fall in oil prices. Oil prices fell by just over four percent. Brent crude futures dropped below US$39 a barrel.

Increase in oil supplies from the OPEC countries is among the reasons for oil prices' decline. Experts estimated that the oil production in the last month increased by 160,000 barrels per day compared to August.

 

Photo:  zakon.kz