Tenge rate up after oil output cut deal
By Trend
The exchange rate of Kazakhstan's national currency, tenge, hit 330.51 tenges for one US dollar at the afternoon trading session at Kazakhstan's Stock Exchange (KASE) on December 12, KASE reported.
The same session on Friday, Dec. 9 had tenge at 334.23 mark before the oil deal reached by OPEC and non- OPEC countries.
At Kazakhstan's Stock Exchange’s Dec. 12 morning trading session
tenge rate hit 331.56 tenges for one US dollar compared to 334.43
tenges at Dec. 9 morning trading session.
Average tenge rate against US dollar at the morning and afternoon
sessions increased to 331.12 tenges on Dec. 12 compared to 334.31
tenges on Dec. 9.
On Saturday Dec. 10 OPEC and non-OPEC producers reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices. Non-oil producers agreed to reduce output by 562,000 bpd. Earlier OPEC agreed to slash output by 1.2 million barrels per day from Jan. 1, with top exporter Saudi Arabia cutting as much as 486,000 bpd.
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