NB to continue intervening in FX market – Akishev
ASTANA. KAZINFORM The National Bank reserves the right to intervene in the foreign exchange market to prevent sharp fluctuations of the tenge rate and in case of threat to financial stability, Kazinform cites Kazakhstan's chief banker Daniyar Akishev as saying at the National Forum "Corporate Management: New View on Investment Attractiveness of Kazakhstan" today in Astana.
Akishev reminded that in March 2016, exchange rate fluctuated at 343-349 tenge per U.S. dollar.
He noted that the National Bank will continue carrying out its floating exchange rate policy, having stressed that it has no targets on exchange rate and no forecasts of its value.
Such policy, as Akishev added, will ensure safety of gold and foreign currency reserves and will support competitiveness of domestic producers.
According to the National Bank, its gross international reserves at the end of February 2016 made USD 27,800,000,000. The international reserves of the country including foreign currency assets of the National Bank (USD 63,500,000,000) made USD 91,300,000,000.