Analysts on fair market exchange rate of USD to tenge
August 20 the country’s Central Bank renounced its policy of the set currency band, letting the national currency float freely.
Kazakhstan’s PM Karim Massimov on further economic prospects
The 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.
Kazakh currency falls 23 percent after switch to free-float
Energy-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.
PM Massimov on how Kazakhstan avoided default
From 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 central bank on why fixed currency exchange rate had to be renounced
Inflation targeting is another type of monetary policy that rests on the inflation rate in the mid run, rather than on the currency exchange rate: Kairat Kelimbetov.
Kazakhstan opts for floating exchange rate for its currency
The 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.
Causes of tenge-dollar exchange rate spike unclear
People in Kazakhstan wonder about the meaning of August 19 spike in tenge-dollar exchange rate, while the National Bank keeps silent.
New devaluation in Kazakhstan?
Kazakhstani banks raise dollar-tenge exchange rate. People fear another devaluation of the currency. The Kazakh National Bank is silent.
China's long march to currency reform takes a step forward
China's currency devaluation is a step in the long march to a more open regime for the yuan, analysts say, but authorities will need to further loosen their controls to promote long-term growth.
Loans in dollars are dangerous: head of Kazkom
Chairman of the Board of of Kazkommertsbank said that issuing and obtaining loans in dollars in Kazakhstan was dangerous.
Economic slowdown expected in Central Asia in 2015: IMF
The newly published IMF report on economic prospects of the Caucasus and Central Asia is not very optimistic.
Kazakhstan rules out possibility of single EEU currency
Kazakhstan has once again ruled out the possibility of adopting a single currency for the Eurasian Economic Union (EEU), despite the propositions of the President of Russia Vladimir Putin.
Russia’s First Vice Prime Minister on currency union within Eurasian Economic Union
March 20, 2015, while meeting Presidents if Kazakhstan and Belarus, Russia’s President Vladimir Putin said the three countries had approached the issue of launching a currency union.
Vladimir Putin suggests considering currency union within Eurasian Economic Union
According to him, it’s easier to respond to external financial and economic threats and defend the common market if we all work shoulder to shoulder.
Samruk-Kazyna limits forex transactions of its subsidiaries
Kazakh National Wealth Fund Samruk-Kazyna has ordered its subsidiaries to avoid making unnecessary foreign currency transactions to reduce pressure on the tenge exchange rate in Kazakhstan.
No sharp changes of the tenge exchange rate: Central Bank Governor
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: Kairat Kelimbetov.
Deposits denominated in foreign currencies 72% up in Kazakhstan
Kazakhstan’s banks assets grew by 17.9% in 2014, reaching $98 billion, according to the Central Bank.
It will take 5-6 years for Kazakhstanis to stop quoting domestic prices in the US Dollar
Olzhas Khudaibergenov, Director of the Center for Macroeconomic Research, outlined measures to reduce the currently excessive dollarization of the country’s economy.
Kazakh National Bank Governor reiterates tenge stability
Kairat Kelimbetov reassures the population of Kazakhstan of the stability of the tenge.
Kazakh National Fund grows despite drop in oil prices: Minister of Finance
Despite the drop in oil prices, Kazakhstan’s National Fund continues to grow.
