Kazakh National Bank purchases $1.2 billion in Feb.
Azerbaijan, Baku, March 6 /Trend E. Kosolapova/
The Kazakh National Bank purchased $1.2 billion in the domestic market in February to prevent excessive strengthening of the national currency - tenge, the bank's head Grigory Marchenko said, Novosti-Kazakhstan reported.
"In February we bought net $1.2 billion in the market to prevent exchange rate strengthening," Marchenko said at a press conference in Almaty on Tuesday.
According to the National Bank, tenge exchange rate in February 2012 made up roughly 147.62148 tenge per $1. By the end of February tenge has strengthened by 0.6 percent and hit 147.74 tenge per $1.
Marchenko said that the high volume of dollars supply to the market follows from favorable conditions in the international markets.
Annual inflation level as of March 1 was at 4.7 percent in Kazakhstan - the lowest level since 1999.