National Bank comments on possibility of “400 tenge per dollar” in Kazakhstan

Tengrinews.kz – Will the dollar fall to 400 tenge? National Bank Chairman Timur Suleimenov commented on speculation about a possible strengthening of the national currency amid rising global oil prices.
According to the head of the National Bank, an exchange rate of 400 tenge per dollar is not considered in realistic economic scenarios.

"Anything is possible, but we must look at realistic scenarios. In realistic scenarios, of course, we do not consider 400. It is unlikely that as an economy, as an industry, we will be able to increase exports so significantly and reduce imports so that our balance forms at the level of 400 tenge per dollar," Suleimenov said during a briefing.

He noted that the current exchange rate is around 500 tenge per dollar, and possible fluctuations are estimated within 5–7 percent.
Suleimenov emphasized that overall the regulator does not expect sharp movements in the exchange rate either toward strengthening or weakening.

"Basically, we do not see sharp movements in either direction. Everything will depend on the balance of supply and demand in the market. We will curb sharp speculative movements and will use interventions," he said.