Requirement to sell 50% of quasi-public sector foreign currency earnings to be abolished

The National Bank of Kazakhstan is abolishing the requirement for quasi-public companies to sell 50% of their foreign currency earnings on the domestic market. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.

National Bank Chairman Timur Suleimenov said the decision will be made next week. "This was an anti-crisis measure. We plan to cancel this measure next week. There is no crisis now, the tenge is stable," Suleimenov said.

He also noted that the National Bank will retain the possibility of reusing this measure if necessary.