Economy Minister sees no reason for another tenge devaluation

"There are no reasons for concern. If you look at the rouble exchange rate, despite all circumstances, it is stable and in the Bank of Russia's target corridor. And this is the same in Kazakhstan," Minister Dossayev fended off rumours of another tenge adjustment. Asked if replacement of the dollar with roubles and yuans by Russia and China may provoke another national currency adjustment, the Kazakh minister said fears are groundless. "We also plan to introduce payments in yuan terms with China to some extent. This is normal for bilateral trade relations. We have a multi-currency basket to this end. This does not necessarily mean that there will be tenge adjustment," he added. Recall that on February 11, 2014, the National Bank of Kazakhstan carried out a one-off adjustment of the national currency, cutting the rate to 185 tenge to the dollar.