Baku, Azerbaijan, Oct. 22
By Rashid Shirinov – Trend:
The National Bank of Kazakhstan has published data on interventions in the foreign exchange market from 1996 to 2018, Kapital.kz reported referring to the bank.
The data shows that the largest currency interventions were carried out in 2014, when the National Bank sold more than $22 billion in the foreign exchange market. In 1999, only $10 million was sold, which was the minimum amount for the reporting period.
It is worth reminding that in order to prevent the strengthening of devaluation expectations and stabilize the domestic currency market, the National Bank of Kazakhstan, for the first time since October 2017, decided to conduct currency interventions in September this year.
In the period from September 5 to 7, 2018, in the absence of foreign currency supply, the National Bank sold $520.6 million. During these days, the Bank’s share in the total trading volume on the currency exchange was about 80 percent, while overall for the month the share equaled 13.6 percent.