According to the morning trading session on the Kazakhstan stock exchange, the national currency of the country started to strengthen. So on Monday morning, 218.61 tenge are sold for 1 dollar, in comparison with Friday, when 1 dollar was worth 252.47 tenge. The average rate of the tenge increased by 13%.
We recall that from August 20th Kazakhstan moved to a free floating exchange rate of the tenge, abolishing the currency corridor.
According to the president of Kazakhstan, Nursultan Nazarbayev, free rate fixing will help to restore the competitiveness of the economy, RIA Novosti writes.