Kazakh tenge strengthens positions
Kazakhstan’s national currency tenge gradually pares losses. The exchange rate rose to 352.08 tenges against the USD during the morning trading session at Kazakhstan Stock Exchange (KASE) on Feb.18, compared to 360.6 tenges on February 17, the KASE reported.
This is while the exchange rate of Kazakhstan’s national currency rose to 349.96 tenges against one US dollar in day trading on Feb.18, compared to 358.12 tenges on February 17.
The exchange rate of tenge began to decline after the country’s National Bank switched to a floating rate in August. As a result, the exchange rate of tenge against dollar halved in six months. The minimum exchange rate of tenge against dollar was recorded on Jan. 22 (383.91 KZT/ USD).
Meanwhile, Kazakhstan's GDP increased by 1.2 percent in 2015 compared to 2014, the Statistics Committee of the Kazakh Ministry of National Economy said.
The production of goods increased by 0.1 percent in Kazakhstan in 2015. The industrial indices decreased by 1.5 percent, construction increased by 4.3 percent, agriculture, forestry, fishery - increased by 4.4 percent for the period. The production of services increased by 2.3 percent in Kazakhstan in 2015.
Kazakhstan's GDP amounted to 40.76 trillion tenge in real terms in 2015.
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