National Bank Chairman Timur Suleimenov responded to forecasts about the weakening of the tenge. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
Today after a Senate meeting, journalists asked the head of the bank about a forecast that the tenge could weaken to 515 tenge per dollar. Suleimenov said he had not heard of such a forecast and that there is no basis for the tenge to weaken.
"They said that when the base rate is reduced to 17 percent, demand for tenge assets will decrease, and the dollar exchange rate will rise. Since then, nothing has changed, not even one tenge. It was traded at 487-488 tenge, and it is the same now," the bank chairman said.
After the US and Iran reached a peace agreement, oil prices dropped sharply. "It was around 100 dollars, this morning, if I'm not mistaken, it was 78 dollars. This situation also did not significantly affect the tenge. Overall, both the market and experts see macroeconomic stability. Thanks to this, the tenge remains strong," Suleimenov added.