The tenge rate continues to fall in case of any change in external conditions. At the KASE trades on July 7, it fell another 8.65, to 477.43 per $1. The reason is the drop in world oil prices that happened the day before and the humiliation of the ruble exchange rate.
By the way, the tenge strengthened a little against the Russian currency, up to 7.55 per 1 ruble.
Exchangers in Almaty on the morning of July 8 ask for 1 dollar 479.5 tenge, for 1 euro 491 tenge, for 1 ruble 7.5 tenge.
The cryptocurrency market cheered up, the price of bitcoin increased by 8% per day, to $22,091.
Brent oil, after falling on the news of Saudi Arabia discounts, moved to a sharp increase, having risen in price by 4.97% per day, to $106.44 per barrel.
Wheat prices in the US also rebounded from the local bottom, and the September futures rose 1.67% to $8.52 per bushel.
In the meantime, the Russian Central Bank approved the first commodity index - the stock index for wheat. It is calculated daily based on the results of trading at the National Commodity Exchange and reflects the cost of a ton of wheat on terms of delivery to the port of Novorossiysk. Market participants can refer to this index when entering into contracts.
Russia is the world's largest exporter of wheat, shipping 40 million tons of all types of grain (including 30.7 million tons of wheat) to foreign markets in the 2021/2022 marketing year. In the new year 2022/2023, the supply of 50 million tons of grain is expected.