Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Astana, February 10 /Xinhua/ — Kazakhstan's national currency, the tenge, strengthened by 3.7 percent this year, demonstrating growing confidence in tenge assets. This was reported on Tuesday by the Kazinform news agency, citing Timur Suleimenov, Chairman of the National Bank (Central Bank) of Kazakhstan.
T. Suleimenov noted that, despite the volatility of external markets and increased demand for foreign currency, the tenge's strengthening was the result of the country's monetary policy and a general increase in confidence in the state's macroeconomic policies. He stated that this year, the National Bank will maintain a flexible exchange rate regime, which is seen as a natural stabilizer against external shocks, while currency interventions are possible if necessary.
According to the head of the Central Bank, the country's gold and foreign exchange reserves reached a historic high of $65.4 billion, and their yield over the past year amounted to 43%.
T. Suleimenov emphasized that current policy is helping to maintain interest in tenge instruments: the volume of deposits has grown to 48 trillion tenge, an increase of 16.3 percent, while the level of dollarization has fallen to a historic low of 21 percent. –0–
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