The National Bank bought $910 million from the National Fund and is selling the foreign currency on the domestic market to finance government spending under mirroring operations.
The National Bank bought $910 million from the National Fund and will sell this foreign currency on the domestic foreign exchange market as part of mirroring operations with the National Fund. The sale is being carried out taking into account market conditions to keep the exchange rate aligned with fundamental factors and prevent sharp speculative swings in the tenge.
In October 2026, the tenge exchange rate weakened by 3% to 453.77 tenge per dollar. The National Bank conducted no currency interventions in October, but bought $568 million on exchange trading to maintain the foreign currency share of pension assets.