News about Tenge

Nazarbayev dispels rumours of tenge devaluation President Nursultan Nazarbayev has dispelled the rumours about a forthcoming devaluation of the tenge in Kazakhstan.

29 April 2015

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.

28 April 2015

Kazakh banks may benefit from tenge devaluation: experts Experts share their views on the possible implications of devaluation of the tenge for Kazakhstani banks.

24 March 2015

Kazakhs bore into microcredits amid shortage of tenge in banks Kazakhstanis are now increasingly relying on services of microfinance organisations due to the shortage of tenge in banks.

21 March 2015

Head of Kazakh bank tags tenge deficit artificial Chairman of one of Kazakhstani banks says that the tenge deficit in Kazakhstan is created artificially.

07 March 2015

Kazakhstan’s Central Bank comes up with plan to reduce economy dollarization The plan for 2015-2016 was developed concertedly with the Government and seeks to ensure macroeconomic stability, develop cashless payments, reducing the shadow economy, and prioritize the national currency over foreign currencies.

04 March 2015

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.

25 February 2015

Kazakh Central Bank Governor speaks tenge liquidity and de-dollarization Governor of the National Bank of Kazakhstan Kairat Kelimbetov speaks about the state of the financial market in Kazakhstan and what the government will do about it.

15 February 2015

Nazarbayev urges state companies to support tenge President of Kazakhstan Nursultan Nazarbayev has urged Kazakhstan's state companies to sell dollars and buy the tenge.

13 February 2015

Tenge exchange rate adjustment possible if oil prices go below $50: Kazakh central bank governor Kelimbetov Governor of the National Bank of Kazakhstan Kairat Kelimbetov said that a devaluation of the tenge is possible if oil prices fall below $50 per barrel.

13 February 2015

Kazakhstan to introduce ban on purchase of real estate and vehicles for cash: Central Bank Governor These transactions should be made through a bank account so that the National Bank and tax authorities could see the payments, he elaborated.

12 February 2015

Tenge-denominated loans to be available soon: Kazakh Central Bank Governor It was a natural response of the banks (…) they had been expecting a drastic currency devaluation and they insured against currency-related risks, he elaborated.

12 February 2015

Plan to mitigate devaluation in Kazakhstan presented by Khudaibergenov, Ushbayev With the coming of February Kazakhstan's population and businesses were holding their breaths waiting for the National Bank's next move on the tenge. Is devaluation inevitable and how bad can it be? Kazakhstani experts Olzhas Khudaiberganov and Anuar Ushbayev say they have a plan.

12 February 2015

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.

11 February 2015

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.

05 February 2015

Kazakh banks experiencing tenge shortages Experts talk about the deficit of tenge experienced by commercial banks in Kazakhstan.

04 February 2015

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.

29 January 2015

Kazakh National Bank Governor reiterates tenge stability Kairat Kelimbetov reassures the population of Kazakhstan of the stability of the tenge.

24 January 2015

Kazakhstan’s Central Bank Governor on tenge prospects According to him, back in 2014 the country’ economy accumulated certain margin of safety. The country’s gold and FX reserves reached $102 billion, including $73 billion with the National Oil Fund.

16 January 2015