Kazakh National Bank widens national currency’s rate corridor

Sept. 10. Trend

By Elena Kosolapova

Kazakh National Bank widens national currency’s rate corridorKazakh National Bank brought down the lower limit of the rate corridor of national currency tenge from 182 tenge per one dollar to 170 tenge per one dollar, Novosti-Kazakhstan reported with the reference to Kazakh official.

Thus, the corridor for dollar-tenge rate will change from 182-188 tenge per dollar to 170-188 tenge per dollar, the head of the National Bank Kairat Kelimbetov told reporters on Sept.10.

“The decision to change the rate corridor was taken literally today, and tomorrow it will come into force,” Kelimbetov said.

The National Bank of Kazakhstan devaluated its national currency by 19 percent and set the rate corridor at 185 tenge per dollar plus or minus 3 tenge in February.

Earlier Kelimbetov said that tenge which changed its rate from 183.5 per dollar in June-July to182 tenge per dollar in August has the potential to be further strengthened.