1. Main
  2. Learn
  3. News overview
  4. Kazakhstan

Rumors of currency devaluation born in beauty parlors and taxis: Gregory Marchenko, Governor of the National Bank 12 октября 2011, 17:30

According to him, with the current prices for commodities the tenge is posed to strengthen.
Gregory Marchenko. ©Vladimir Dmitryev Gregory Marchenko. ©Vladimir Dmitryev
According to Gregory Marchenko, Governor of the National Bank, ungrounded rumors of weakening of the tenge, Kazakhstan’s national currency, against the Russian rouble and of possible devaluation are getting into the media from beauty parlors and taxis [where common people tend to chat on topics of everyday life], Tengrinews.kz reports. Head of the National Bank said that today when speaking at a press-conference in Almaty. “There have been many speculations on Russian rouble being devalued and the tenge following the trend (…) However, all the macroeconomic indicators are good. And the speculations of possible changes emerge because of lack of proper understating of the economic situation and reluctance to analyze rumors, with the latter picked up by journalists in beauty parlors and taxis”, Marchenko said. Head of the National Bank emphasized that “the macroeconomic situation is positive. And with the current prices for commodities the tenge is posed to strengthen”. “This is the policy we pursue. It does not make sense to let the tenge appreciate or devalue substantially. The situation will remain stable, especially given the current commodities exports and the current prices”, Marchenko said. Earlier Kadyrzhan Damitov, President of the Kazakhstan’s Stock Exchange KASE, said that within the Customs Union the exchange rate of the tenge would increasingly depend on oil prices and Russian rouble’s exchange rate.

Nobel prizewinner proposes a new city in KZ
New abnormal snowfalls expected in Kazakhstan
Huge glacier retreat triggered in 1940s
Hyperloop construction begins in Las Vegas
"Moonlight" to top Spirit Awards nominations
Oil prices fall due to investors uncertainty
New dwarf galaxy discovered around Milky Way
Kanat Islam becomes a top ten WBO boxer
World oil prices continue to rise
Kazakhstan expects warming - Kazhydromet
Merkel to seek fourth term as chancellor
Sale of Tintin drawings set to break records
US, EU stocks fall as markets focus on dollar
Pacific leaders urged to defend free trade
EU warns eight nations on budget deficit
Universiade-2017: Athletic Village is ready
Bob Dylan can't make Nobel ceremony
Messi will never leave Barca - club president
Google, Facebook take aim at 'fake' news
Aerosmith announces Europe 'farewell' tour
Putin, Trump to normalise US-Russia ties
At least 10 hurt in southern Turkey blast
6.2 quake hits western Japan