NB does not exclude smooth tenge devaluation under oil price drop below $50/barrel

Date: 15:16, 12-02-2015.

Astana. February 12. KazTAG - Kairat Kelimbetov, chairman of the National Bank declared about possible extension of currency corridor limits and smooth change  of the national currency rate under ongoing fall of oil price below $50/barrel.
"If oil price drops below $50, if negative scenarios come true,  in this case we suppose smooth change of currency rate, also through extension of the exchange rate corridor. I am talking about mid term practice and possible reduction of oil price," he said. He added as of today there are no macroeconomic preconditions for reduction of tenge rate in respect of dollar.
"We believe that today's corridor lets us stay there, where tenge costs approximately 185 tenge per dollar," he said.
As known, current tenge fluctuation corridor makes 185 tenge/$1 +3-15% (170 tenge- 188 tenge per $1.

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