Why is this important
The fall of the dollar reduces inflation, but it hits exporters hard. The fall of the ruble makes imports from Russia cheaper.
What happened
- Dollar 11,990 (-24.94), euro 13,866.44 (-33.64);
- Pound 15,742.87 (-85.61), ruble 147.55 (-0.76);
- Yuan 1683.94 (-3.69), yen 77.69 (-0.25), tenge 22.84 (-0.11).
Soum fortification
Possible reasons:
- Strict policy of the Central Bank;
- Growth of reserves to $59.33 billion;
- Currency inflow;
- Central Bank Interventions.
Context
- The soum is strengthening: from 12,800 to 11,990 per year due to the strict policy of the Central Bank, the growth of reserves, and the inflow of foreign currency.
- Gold and foreign exchange reserves: $59.33 billion (+44% per year) — ensure the stability of the sum.
- Inflation is decreasing: from 13-15% to 11.7% due to the strengthening of the soum and the strict policy of the Central Bank.
- Exporters suffer: the strengthening of the sum reduces sum revenue when selling foreign currency earnings.
