Why intervene with tenge free float?Deputy Chairman of the National Bank of Kazakhstan Kuat Kozhakhmetov has commented on the recent interventions of the financial regulator.
Olzhas Khudaibergenov on currency interventionsWednesday, September 16, the country’s Central Bank had to resort to currency interventions worth $114 million to sustain the tenge exchange rate.
Kazakhstan’s PM Karim Massimov on further economic prospectsThe Government will be rendering support to socially vulnerable groups of population. In the long run (…) it’s impossible to support all troubled industries out of taxpayers’ money: Karim Massimov.
20 August 2015
Kazakh currency falls 23 percent after switch to free-floatEnergy-rich Kazakhstan announced it was abandoning its currency band for a free-floating exchange rate, in a move that triggered a 23-percent fall in the value of the tenge against the US dollar.
20 August 2015
PM Massimov on how Kazakhstan avoided defaultFrom August 20 the National Bank and the Government have decided to implement a new monetary policy based on inflation targeting and to renounce the earlier practiced currency corridor.
Kazakhstan opts for floating exchange rate for its currencyThe National Bank will not be directly defining the exchange rate, but will retain the right to rely on currency interventions if the financial system faces threats of destabilization.
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