The central bank of Kazakhstan has expanded the Tenge to US Dollar pegged corridor from 6 tenge to 18 tenge, Tengrinews reports.
National Bank Governor Kairat Kelimbetov made the announcement in Astana today.
"The decision to change the corridor has been taken literally today. It will be effective as of tomorrow," Kelimbetov said. The Bank has expanded the pegged corridor from the exiting 185 tenge per dollar +/-3 tenge range to 185 tenge per dollar +3/-15 tenge.
National Bank Governor Kairat Kelimbetov made the announcement in Astana today.
"The decision to change the corridor has been taken literally today. It will be effective as of tomorrow," Kelimbetov said. The Bank has expanded the pegged corridor from the exiting 185 tenge per dollar +/-3 tenge range to 185 tenge per dollar +3/-15 tenge.
Kazakhstan keeps the exchange rate of its currency in managed float - in a pegged corridor.
The Governor first mentioned the plan to enlarge the pegged corridor last week. He then explained that the expansion would serve to bring the tenge to dollar exchange rate to 181 or even 179 tenge per 1 US dollar, even went as far as assuming that the rate may eventually go down to 170 tenge per 1 US dollar.
For more information see:http://en.tengrinews.kz/politics_sub/Kazakhstan-expands-Tenge-to-US-Dollar-exchange-rate-corridor-256061/
Use of the Tengrinews English materials must be accompanied by a hyperlink to en.Tengrinews.kz
For more information see:http://en.tengrinews.kz/politics_sub/Kazakhstan-expands-Tenge-to-US-Dollar-exchange-rate-corridor-256061/
Use of the Tengrinews English materials must be accompanied by a hyperlink to en.Tengrinews.kz
INC News, 11/09/2014, via Tengiznews
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