Stability is observed in the foreign exchange market of Kazakhstan - D. Akishev
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Stability is observed in the foreign exchange market of Kazakhstan - D. Akishev

15 February, 17:59 367
Stability is observed in the foreign exchange market of Kazakhstan - D. Akishev

Now in the foreign exchange market stability is observed. Moreover, the rate of tenge becomes stronger in response to improvement of external economic conditions, head of the National Bank of Kazakhstan Daniar Akishev reported about it to deputies of Majilis of parliament, BNews.kz reported. 

"After transition to the mode of freely floating exchange rate and adaptation of subjects of economy to new conditions the exchange rate corresponds to objective factors and provides competitiveness of our producers. All this occurs against the background of lack of intervention of National Bank in the foreign exchange market. We don't carry out intervention since September, 2016," Akishev emphasized.

According to him, the similar policy allows to keep gold and foreign exchange reserves. For the end of January general reserves of the country, including currency assets of National fund, reached nearly 92 billion dollars, and it is already higher than the level of the end of 2015. 

Also the head of the financial regulator told that measures of National Bank for increase in appeal of tenge  tools showed the efficiency.

So, in 2016 will make significant progress in increase in a share of national currency tenge as means of accumulation, calculations and the measuring instrument of an asset cost. 

According to Akishev, for 2016 deposits in tenge grew by 3.3 trillion tenge, in foreign currency – decreased by 1.1 trillion tenge.

"Level of dollarization of all deposits from the maximum level in 70% decreased to 55%, and on deposits of physical persons – from 80% to 62%," D. Akishev noted. It was promoted stabilization in the foreign exchange market and measures of National Bank for increase in appeal the tenge tools".

Continuing the subject «Kazakhstan»