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No sharp changes of the tenge exchange rate: Central Bank Governor

11 february 2015, 15:33
Turar Kazangapov ©
Turar Kazangapov ©

There will be no sharp change of the tenge exchange rate, a Tengrinews.kz journalist reports, citing Central Bank Governor Kairat Kelimbetov as saying following the today’s extended government sitting.

He stated the Central Bank is determined not to allow drastic changes of the tenge exchange rate in 2015. According to him, there is a sufficient margin of safety for that.

“We believe in the current macroeconomic conditions we will be further pursuing the policy of the currency corridor. It is reasonable within the current economic situations. Should there be some changes in the external markets, we will prevent a shocking currency devaluation and will be working to ensure a gradual change of the tenge exchange rate”, he said.

Earlier today the country’s President Nursultan Nazarbayev called Kazakhstanis not to believe rumors of imminent currency devaluation.

“Today the Central Bank Governor has briefed me that all possible measures are being taken to curb inflation and prevent sharp changes of the national currency exchange rate. I have no grounds not to believe the Central Bank”, President said at the sitting.

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