Kazakh government, National Bank issue statement about national currency stability
Astana, Kazakhstan, Dec. 25
By Daniyar Mukhtarov - Trend:
The foreign exchange policy will not allow the sharp tenge exchange rate fluctuations in Kazakhstan, a joint statement by the government and the National Bank says.
This joint statement concerns the main directions of economic policy for 2015.
The foreign exchange policy will be directed at ensuring a balance between internal and external competitiveness of Kazakhstan's economy, the statement said.
"There will not be any sharp tenge exchange rate fluctuations," the statement says. "The measures will be taken to limit speculation on the foreign exchange market. The National Bank jointly with the government will change the legislation in 2015 by increasing the requirements for the exchange offices' activity on the cash market."
The policy will be continued in 2015 to maintain the international reserves of the National Bank at an adequate level.
"Fixing the prices on goods and services in nominal units will be banned," the document says.