The Kazakh tenge is unlikely to move significantly against the dollar this month as the greenback's global weakness offsets the oil price slump, according to a Reuters poll. Nine of 10 participants in the poll, which was carried out on November 26-30, predicted that the oil-exporting Central Asian nation's currency would move no more than 2 percent in either direction in December.
One analyst forecast a strengthening to 350 tenge per dollar by the end of the month from 372 per dollar on Tuesday. The 12-month outlook for the tenge was also mixed, with four out of 10 participants predicting it would gain, three forecasting the tenge would weaken and three expecting a stable exchange rate. The tenge closed November nearly flat against the dollar.