National Bank: no sharp fall in Tenge expected - Kazakh TV

In the near future, the National Bank of Kazakhstan does not expect a sharp fall in tenge. All of the most negative scenarios of the global market have already been implemented, - the head of the regulator said at a press conference in Almaty. For 2 years the price of oil dropped from 110 to 28 dollars per barrel. Therefore, the National Bank will continue to adhere to the policy of floating exchange rate of tenge.

 

Daniyar AKISHEV, CHAIRMAN, NATIONAL BANK OF KAZAKHSTAN:

That is, we have already lost 82 dollars for each barrel of oil, which led to a drop in exports to 2 times, and three times the reduction of coming from it foreign currency earnings.  In the case of lower oil prices from 30 to 20 dollars per barrel, our loss is only $ 10 a barrel that would not lead to drastic reduction of foreign exchange earnings, which can affect the balance of the foreign exchange market.

 

The head of the National Bank also said that since 2016 the interest rates on deposits for individuals - both tenge and foreign currency have changed.

 

Daniyar AKISHEV, CHAIRMAN, NATIONAL BANK OF KAZAKHSTAN:

Kazakhstan Deposit Insurance Fund made a decision on the establishment of a January 1, 2016 the maximum amount of interest rates on deposits of individuals in national currency at a rate of 14% and on deposits in foreign currency - at a rate of 2%.  This will increase the attractiveness of deposits in tenge and protect the savings of our citizens.

 

 

 

Photo: newskaz.ru



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