The President pointed out that tenge devaluation decision was a necessary measure taken to support the country’s economy. By taking this measure the gold monetary reserves of the country have been preserved. The head of state also supported the actions made by the Government, the Agency for Regulation and Supervision of the Financial Market and Financial Organizations, the Samruk-Kazyna Fund and the National Bank on strengthening the state control in the banking sector of the country.
“The National Bank could stabilize the situation in foreign exchange cash market. Already on Thursday afternoon, the maximum exchange rate was KZT 151 to US$ 1dollar at all largest exchange houses. There is quite enough foreign cash in the country. The national currency rate has been fixed on the foreign exchange market without the National Bank’s intervention. We could promptly stabilize the situation on the stock and foreign exchange markets,” Grigory Marchenko said at a press briefing.