National Bank of Kazakhstan Sold About $200 Mln On Exchange Market

National Bank of Kazakhstan Sold About $200 Mln On Exchange MarketALMATY. KazWorld.info In July, the National Bank of Kazakhstan sold almost $200 mln on exchange market.

“In July, the rate lowered by 4% from 338.66 tenge to 352.52 tenge. As per the free floating exchange rate policy, the National Bank does not target a certain level of exchange rate. We do not have a certain orienteer. The National Bank’s operations on the currency market are aimed at limitation of significant changes or fluctuations of the exchange rate,” said Chief Banker of Kazakhstan Daniyar Akishev at a press conference in Almaty.

According to him, since January 2016, the National Bank has been intervening the foreign exchange market to prevent sharp weakening of the tenge.

“The National Bank sold $198.7 mln and bought $2 bln in January-July 2016 as part of its intervention operations,” he added.

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