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Kazkhstan returns to managed float

28 february 2011, 16:40
The National Bank of Kazakhstan (Central Bank) returns to the managed float of the tenge exchange rate starting from February 28, Interfax-Kazakhstan reports. That was announced by the Bank’s Vice Chairman Daniyar Akishev at the National business forum-2011 organized by Zertteu Group in Astana.

“The National Bank has decided to scrap the trading corridor for the tenge, returning to the managed float starting from February 28, that is today”, Mr. Akishev said. According to him, “the currency exchange rate against the US Dollar has been stable”.

Earlier it was announced that Kazakhstan would return to the managed float starting from March 20, 2011.

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