Kazakh National Bank Chief to comment on national currency devaluation situation

ASTANA. KAZINFORM - Kazakhstan's National Bank Chairman will comment on the situation concerning the national currency devaluation at 1 p.m. in Almaty.
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The Kazakh National Bank has decided to stop maintaining the exchange rate of the national currency tenge at a previous level, to reduce the volume of foreign exchange interventions and to reduce interference with the process of formation of the tenge exchange rate, the Bank said on Feb. 11.

"The National Bank expects that the new level of the exchange rate will be about 185 tenge per dollar," the Bank said.

The official rate of the National Bank was at 155.5 tenge per dollar on February 11.

Kazakhstan Stock Exchange (KASE) informs that Kazakhstan Tenge/US Dollar exchange rate is KZT 186 per USD 1. The official website of the BTA Bank says that the purchase price equals to KZT 182 per USD 1 and sale equals to KZT 190 per USD 1. The official website of thw Alliance Bank gives purchase price of KZT 155 per USD 1, sale price of KZT 215 per USD 1.

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