National Bank of Kazakhstan expands tenge to US dollar exchange rate corridor

ALMATY. KAZINFORM - The National Bank of Kazakhstan has decided to expand the tenge to US dollar pegged corridor.

It will be effective as of tomorrow, Chairman of the Bank Kairat Kelimbetov has said in a statement at a press conference in Almaty today. "The decision to widen the exchange rate band has been made today and is expected to come into effect tomorrow. Up until now the tenge exchange rate fluctuated in the corridor of 185 tenge per US dollar +/-3 tenge. The decision has been made to avoid fluctuation," Mr. Kelimbetov said. He also added that in February-August 2014 the tenge/US dollar exchange rate was kept at the level of 183 tenge per US dollar.