National Bank Head expresses view on using national currency in international payments
"Right before our very eyes, there is a renunciation of some principles, which were unambiguously considered as achievements several years ago. The geopolitical situation is becoming even more serious; trade protectionism and capital outflow are intensifying. As a result, the volatility of world markets and the risks of participants in foreign trade activities are on the rise," said Daniyar Akishev.
According to him, the widespread use of national currencies in international payments is impossible without a developed market for securities in national currencies and without an open market access for foreign investors.
"It is essential to intensify the process of encouraging the use of national currencies. However, for participants in foreign trade activities, it is important to ensure the conditions for storing currency at financial markets, which are liquid, stable, reliable and open for non-residents, so that to be insured against currency risks. We see the future in digital integration, where the ultimate beneficiary of all innovations should be a consumer of services. Protectionism of business and interests, both globally and locally, should be replaced by care for the consumer," said the head of the National Bank.