Tenge exchange rate remains stable, Kazakh PM
EL.KZ Информационно-познавательный портал
Prime Minister of Kazakhstan Olzhas Bektenov commented on the current situation regarding the national currency exchange rate.
According to him, the tenge exchange rate is solely determined by market forces, without any National Bank intervention.
“As of today, based on our assessments and those of most experts, There are no grounds for devaluation of the tenge,” Bektenov stated.
The Prime Minister also spoke about the work being done on the upcoming budget.
Under the baseline scenario, the exchange rate is projected at 540 tenge per US dollar.
At the same time, a pessimistic scenario is in place in case the price of oil drops to $50 per barrel, which includes the use of additional mechanisms to stabilize the economy.
Bektenov emphasized that the government continues to monitor market trends and is ready to adjust budgetary parameters to ensure economic stability.
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