Kazakh National Bank plans to widen national currency’s rate corridor

Business Materials 3 September 2014 15:29 (UTC +04:00)

Baku, Azerbaijan, Sept. 3

By Elena Kosolapova - Trend:
Kazakh National Bank plans to bring down the lower limit of the national currency's rate corridor from 182 tenge per one dollar to 170 tenge per one dollar, Novosti-Kazakhstan reported with the reference to Kazakh official.

Thus, the corridor for dollar-tenge rate will change from 182-188 tenge per dollar to 170-188 tenge per dollar, the head of the National Bank Kairat Kelimbetov told reporters on September 3.
The decision on the widening of the currency rate corridor will be adopted this week, according to the head of the National Bank.

The National Bank of Kazakhstan devaluated its national currency by 19 percent and set the rate corridor at 185 tenge per dollar plus/minus 3 tenge in February.

Earlier Kelimbetov said the tenge which changed its rate from 183.5 per dollar in June-July to182 tenge per dollar in August has the potential to be further strengthened.
Edited by C.N.