The Ministry of National Economy commented on experts' forecasts regarding the rise in the dollar exchange rate.

Astana. December 17. KAZAKHSTAN TODAY - At a press conference held by the government, the Minister of National Economy of the Republic of Kazakhstan, Nurlan Baibazarov, commented on the forecast from the Association of Financiers regarding the rise of the US dollar to 545 tenge, as reported by the agency's correspondent.

The most important indicators for us are the level of exports and the level of currency sales in the domestic market. Recently, we held a series of meetings with the National Bank, where we outlined a measure to increase the supply in the domestic currency market, as our pricing is market-based. In November, the National Bank offered more than two billion dollars to the market through transfers and currency interventions - this will help maintain the exchange rate and prevent accelerated devaluation," the minister stated.

According to the forecast from financiers, by 2025, the US dollar may rise to 545 tenge (+6% from the current value). Experts believe that pressure on the tenge may arise from low raw material prices, reduced oil production due to the need to comply with OPEC+ agreements, slow economic growth in major consumers of Kazakhstani raw materials (China and the EU), rising imports, including those driven by the implementation of investment projects, worsening expectations regarding the exchange rate, a complex geopolitical situation in the region, and a general flight of investors from risk.

Such reasoning could lead to a forecast of 600 tenge per dollar. I believe this is just an expert opinion; there are many different views in the market. We do not consider this option," Baibazarov expressed.

Over the past week, the tenge exchange rate has again decreased . The price for a dollar in exchange offices in Astana ranges from 525 to 529 tenge.