ASTANA (TCA) — The situation on the currency market is stabilizing in Kazakhstan, the National Bank Chairman Daniyar Akishev said during his meeting with Kazakhstan President Nursultan Nazarbayev on March 28, Novosti-Kazakhstan news agency reported.
During the meeting President Nazarbayev emphasized that keeping their money in the national currency, the tenge, is more profitable for the population of Kazakhstan now.
“The interest rates on deposits in tenge are high while they are lower on deposits in foreign currency,” the president’s press service quoted Nazarbayev as saying. “All purchase and sale operations in our country are conducted in the national currency, as well as salary payments. Prices for basic goods are stable. So in all respects it is more profitable to keep money in tenge, and it is important that the population prefer the national currency.”
The chief banker informed the head of state about the situation on the currency market in Kazakhstan, saying that it has been stabilizing in March.
“Such fundamental external factors as oil prices and exchange rates of currencies in our trading partner countries have stabilized. Under such conditions the tenge has been strengthening from February of this year and this trend has continued this month. The tenge has strengthened by 1.6 percent,” Akishev said.
The National Bank head also touched upon the process of de-dollarization of bank deposits. “The population and companies have been gradually increasing deposits in the national currency. This month the process has sharply accelerated,” he said.
