A monthly poll of Kazakh analysts showed no consensus on the short-term outlook for the local tenge currency as many cited global uncertainty caused by the coronavirus outbreak. Three out of six participants in the poll, which was carried out between February 25 and March 2, expect the currency to remain broadly stable around 380 per dollar, while two saw it weakening to 385 and one predicted a stronger tenge at 376 per dollar.
Analysts at three Kazakh banks declined to provide any forecasts, saying the markets were too volatile because of the virus and the disruptions it has caused. The 12-month outlook was bearish, with all six analysts forecasting a weaker tenge. The oil-exporting Central Asian nation's currency lost 0.6% against the dollar in February. Neighbouring China is one of Kazakhstan's biggest trading partners.
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