US and EU stocks drifted lower on Friday while euro struck a 12-month low against dollar on market expectations of US interest rate hike.
Merely a relatively stable exchange rate is highly rewarding for holders of KZT because of the very high interest rate in Kazakhstan relative to the US dollar: John Hardy.
Statistics Committee of the Ministry of National Economy of Kazakhstan released official inflation rate data: 13.6% in 2015 in Kazakhstan.
Kazakh National Bank Governor Akishev talks about mechanisms behind depreciation of the tenge and central bank’s role in shaping Kazakhstan
Inflation in Kazakhstan reached 12.8% in the end of November. National Bank's Akishev names tenge depreciation the main driver.
Energy-rich Azerbaijan, whose economy has been hit hard by falling oil prices, withdrew support Monday for its embattled currency and the manat plunged by nearly a third against the dollar.
Russia is considering a common unit of account and currency for the EEU, while Kazakhstan is not eager to move forward with this project.
According to Mikhail Khazin, parity between the Russian ruble and the Kazakh tenge contributes to de-dollarization of trade between Kazakhstan and Russia.
According to experts, appointment of Daniyar Ashirov as New Governor plunged the national currency into the feared 300 KZT to $1 zone.
Governor of the National Bank of Kazakhstan Kairat Kelimbetov sees the current tenge exchange rate as adequate under the circumstances.
Kazakh Minister of Finance Bakhyt Sultanov said that salaries of Kazakhstanis should not depend on tenge per dollar exchange rate.
The National Bank of Kazakhstan has made exchange rate interventions to stabilize the tenge.
Omar Samalikov from Kazakhstan has become the 198th winner of Dubai Duty Free Millennium Millionaire lottery in Dubai and also a cash prize of 1 million dollars.
Kazakhstani economist Vladimir Telnov predicts that global oil prices will continue falling in the next 5 to 15 years.
Following suit of the Kazakhstan national airline Air Astana, another Kazakh airline SCAT has announced a ticket price rise.
Nazarbayev has elaborated on the reasons behind Kazakhstan's decision to send its tenge floating.
After the devaluation of the Kazakh national currency tenge, Kazakhstan president asked exporters to sell dollars at the domestic market.
Kazakh and foreign experts have commented on the recent decision of Kazakhstan to stop defending its tenge and send it floating.
Kazakhstan’s national airline Air Astana has raised ticket prices on international flights after Kazakhstan floated the tenge.
President of Kazakhstan instructed the National Bank to initiate a mechanism of compensation for private fixed-term deposits in tenge.
- National Bank
- Central Bank
- Middle East & Africa
- Eurasian union
- exchange rate
- Central Asia
- Air Astana
- Nursultan Nazarbayev