NBK Chair: Tenge likely to strengthen

ASTANA. KAZINFORM The National Bank of Kazakhstan notes a high probability of strengthening the tenge rate by yearend, Kazinform correspondent reports.

According to the NBK Chairman Daniyar Akishev, currently, the foreign exchange market is stable.

"The exchange rate fluctuates within the historically formed limits given the oil prices and exchange rates of trading partner countries. We do not see any prerequisites for significant exchange rate adjustments. Moreover, given it is the end of the year, the supply of foreign currency is increasing as it is the tax period for exporters and that makes it more likely that tenge will strengthen," Mr. Akishev told journalists after the Government session on Tuesday.