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Astana, Kazakhstan • 25 May, 2022 | 16:43

'Official currency rate is real': Minister of Economy Commented on Tenge Strength

Alibek Kuantyrov also named the factor behind the preceding USD growth

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As of May 25, 17:00, average weighted dollar rate equaled to 414,79 tenge on the Kazakhstan Stock Exchange.  Minister of National Economy Alibek Kuantyrov on the sidelines of the parliament said that the National Bank of Kazakhstan has not carried out any interventions neither in April nor in May and the official currency rate is “real”, Informburo reports

According to Kuantyrov, the growth of the dollar up to 500 tenge in February and March was influenced by several factors, including the rush of demand from businesses and the population, after which the situation stabilized. The minister added that the government, the National Bank and the financial regulator are doing everything possible to stabilize the economy and minimize negative factors.

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