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No deficit of tenge bills in Kazakhstan: Kelimbetov

06 june 2014, 01:29

Governor of the National Bank of Kazakhstan Kairat Kelimbetov denies rumors about deficit of tenge bills in Kazakhstan, Tengrinews reports.

In 2013, the Governor of the National Bank said that it was concerned with shortages in tenge bills of small denomination. But it was later reported that the issue would be solved through issuing additional 200, 500 and 1,000 tenge bills.

“There is no deficit of small denomination bills. We are monitoring the market and analyzing its structure bills-wise all the time. And the demand for bills is timely replenished. We have no problems with bills, even with those stocked up in reserves,” Kelimbetov said at the yesterday's PR Forum in Almaty when asked to comment on the alleged lack of tenge bills of small denomination.

However, the Governor confirmed that 5,000 ($27) and 10,000 tenge ($54.5) bills exceed 50% of the bills pool in circulation in Kazakhstan. In 2013 it was announced that 20 thousand tenge bills will be released into circulation and the National Bank even printed them, however Kelimbetov later said that their release was doubtful and the much-talked-about bills have still not seen the market.

Reporting by Roza Yessenkulova, writing by Gyuzel Kamalova, editing by Tatyana Kuzmina

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