Following 14 January trading session, tenge market exchange rate made 434.84 KZT per US dollar having lost 0.7% since the beginning of the week (from 431.81). The bulk of the EM currencies appreciated for a week. On Wednesday, the US released a report on Consumer Price Index, where December parameter demonstrated a record high base inflation for nearly forty years. Against this background, DXY dropped to a two-month minimum, whereas revenues on treasury bonds demonstrated growth. Situation on the oil market reveals positive dynamics amid a limited supply and waning concerns about Omicron strain, oil prices exceeded USD 86 per barrel.

Exchange rates for EM currencies[1] demonstrated the following dynamics against the USD:

• Turkish lira gained 2.5% of its value (from87 to 13.53) following a speech of President Erdogan in the parliament about extra regulation measures to retain inflation;
• Brazilian real appreciated by 1.8% (from63 to 5.53) amid USD depreciation;
• South African rand rose by 1.2% (from58 to 15.39) in conditions of approving risk sentiment and USD devaluation;
• Indonesian rupee edged up by 0.4% (from 14,351 to 14,296) against falling DXY;
• Mexican peso gained 0.4% (from4 to 20.31) amid USD depreciation and growing prices for commodities;
• Indian rupee inched up by 0.2% (from31 to 74.15) against an inflow of foreign capital and depreciation of the US currency;
• Russian ruble lost 1.1% (from62 to 76.48) amid geopolitical tension and Russia’s statement regarding ineffective negotiations with the NATO on security guarantees.

[1] most USD-traded currencies of emerging markets

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