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.
Amid falling oil prices and tenge exchange rate fluctuations, experts are wary to predict Kazakhstan's future.
In efforts to contain inflation and de-dollarize the economy, National Bank of Kazakhstan raises interest rates on deposits in tenge.
The Governor of the National Bank of Kazakhstan Daniyar Akishev commented on the plan to de-dollarize the Kazakh economy.
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.
Russia is considering a common unit of account and currency for the EEU, while Kazakhstan is not eager to move forward with this project.
Experts believe, the financial sector of Kazakhstan has not reached a complete freedom from pegging to the US dollar.
Minister of National Economy Yerbolat Dossayev announced the increase of inflation corridor from 6-8 percent to 8-10 percent for 2015.
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.
The exchange rate reflects the current external factors such as the exchange rate of the Russia’s rouble and the current state of the Russia’s and China’s economies: Central bank Governor Daniyar Akishev.
In spite of a massive depreciation of the Kazakh tenge, further measure need to be taken to help the domestic manufacturers in Kazakhstan.
According to him, the national currency is just feeling the pressure of falling prices for hydrocarbons, which is natural.
According to Kazakhstani financial analyst Baitas Kurmanov, Kazakh tenge exchange rate has finally stabilized.
National Bank of Kazakhstan released data on Kazakh tenge real exchange rate against the currencies of Kazakhstan's major trade partners.
According to German Deutsche Welle, sharp tenge depreciation caused some foreign workers, who came to Kazakhstan for better prospects, to consider going back home.
Kazakhstan's Prime Minister Karim Massimov described the implications of the Russian ruble's devaluation in fall 2014 for the Kazakh economy.
To keep the gold and FX reserves intact, the Central Bank decided to minimize its participation in the country’s FX market starting from November 5, 2015.
- National Bank
- Eurasian union
- interest rate
- Central Bank
- exchange rate
- Karim Massimov
- Central Asia