National Bank's move to Astana off the table - Kelimbetov
13:54, 23 October 2015
ALMATY. KAZINFORM - Head of the National Bank of the Republic of Kazakhstan Kairat Kelimbetov believes that exchange rate of tenge will stabilize within 3-5 months.
Chairman Kelimbetov announced Friday that U.S. dollar to Kazakhstani tenge exchange rate will stay in a range between KZT 250-270. "Base interest rate will be kept high to target inflation. As for the tenge's exchange rate, it will stabilize in next three-five months," he said at a press briefing in Almaty. He also commented on the much-talked about move of the National Bank headquarters from Almaty to Astana, saying ‘we're not moving and the question is off the table for now'. According to Mr. Kelimbetov, the Government does understand that headquarters relocation is impractical in the current economic situation.