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Tengrinews.kz - Deputy Governor of the National Bank Vitaliy Tutushkin commented on the rising dollar exchange rate.
"I think we place too much emphasis on the number itself. What’s important is the trend," Tutushkin said on the sidelines of the Senate.
Reporters asked him whether the dollar might rise to 600 tenge.
"We don’t make predictions. We operate under a free-floating exchange rate regime and do not forecast nominal rate dynamics," he replied.
Tutushkin also outlined the main factors driving the dollar’s growth.
"The key factor is the strengthening of the dollar globally. The dollar is appreciating against the currencies of both developed and developing countries. If you compare the tenge to the euro, the exchange rate has remained relatively stable. But against the dollar, yes, we are seeing changes due to the global strengthening of the US currency," he explained.
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