Following June 4 trading, market exchange rate of KZT made 428.15 KZT/ USD having lost 0.1% for a week (down from 427.90).

Between May 28 and June 7, 2021 currencies of developing countries demonstrated versatile dynamics on the foreign currency market. Labor market in May in the US moderately improved, however it was below expectations of analysts: unemployment shrank down to 5.8%, number of those employed in non-agricultural sectors rose by 559,000. US business index in May rose up to 64%.

Exchange rates for certain Emerging Markets’ currencies¹ demonstrated the following dynamics against the USD:

• Brazil real, BRL, gained 3.4% (from 5.23 to 5.05) against the background of shrinking positions of foreign investors in hedging weakening of the Brazil real and also prospects of a stronger economic group (+1% y-o-y in Q1, 2021);
• South-African rand gained 2.4% (from 13.76 to 13.43) against the background of inflow of non-residents to the local stock market (5-day average net inflow of foreign investments soared up to $36.5 million),
• Russian ruble gained 0.5% (from 73.2 to 72.85) after positive dynamics in oil prices,
• Indonesian rupee lost 0.1% (from 14,285 to 14,295) against the background of Central Bank’s comments about an intention to follow soft monetary policy,
• Mexican peso almost did not change for a week having weakened from 19.94 to 19.96,
• Indian rupee lost 0.8% (from 72.44 to 73) against background of outflow of foreign investments from the stock market and growing oil prices. Central Bank of India left the interest rate at 4% after outbreak of Covid-19,
• Turkish lira lost 1.3% (from 8.56 to 8.67) against background of release of data about inflation below expectations of economists (+16.59% in May) and urges of the President of Turkey to cut interest rates.

¹ most USD-traded currencies of developing countries

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