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Tenge devaluation not expected - head of central bank

October 10 2013, 17:17

There is no reason to think that there will be devaluation of the tenge, Chairman of the National Bank of Kairat Kelimbetov said today during the plenary session of the Senate of the Parliament of Kazakhstan, correspondent reports.

"In accordance with the constitutional rules, there is no reason for concern, those fundamental factors that influence policy at the exchange rate of the national currency remained unchanged . This also applies to the price of oil and the situation with the exchange rate of the Russian currency, that is why, there is no reason for concern," the head of the National Bank said.

According to him, the National Bank will continue its policy to level the tenge’s exchange rate .

"The President appointing me to this post also instructed me not to change the policy of the National Bank," Kelimbetov said.


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