Kazakhstan’s National Bank to solve problem regarding large banknotes exchange

Photo: Kazakhstan’s National Bank to solve problem regarding large banknotes exchange
 / Kazakhstan

Astana, Kazakhstan, Dec. 23

By Daniar Mukhtarov - Trend:

National Bank of Kazakhstan will solve the problem regarding exchange of large banknotes, the head of the National Bank of Kazakhstan, Kairat Kelimbetov said on Dec. 23.

"We are now working on issuing additional banknotes in denominations of 200, 500 and 1000 tenges, because we believe that the main task of the cash circulation is to provide the cash liquidity or in other words, cash deposit. The remaining circulation has to be conducted via the cards, and we are working on this too," Kelimbetov said at a briefing held at Central Communications Service under the President of Kazakhstan.

He noted that the banknotes signed by the previous chairman of the National Bank, Grigory Marchenko will be issued at least till November 2014.

"Recently the 'Kultegin' banknote in denomination of 1000 tenge was issued with Grigory Marchenko's sign on it; such banknotes will continue to be issued. We lack the small-denomination banknotes," he said.

The exchange rate for December 23 is 153.72 tenge/$ 1.

Translated by E.A.

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