Kremlin says world chess tournaments should go as planned despite FIDE’s presidential rowSport March 27, 19:32
Ukrainian politician says Kiev turns deaf ear to public pleas to end Donbass blockadeWorld March 27, 19:17
Serbia to get Russian MiG-29 fighter jets 'within weeks'Military & Defense March 27, 18:51
Putin wants Russian Guard to ensure security at FIFA World CupMilitary & Defense March 27, 18:35
Russia's Novatek to invest almost $417 million in shipyard for Arctic projectsBusiness & Economy March 27, 18:34
Expert notes China’s new Silk Road plan should address geopoliticsWorld March 27, 18:03
Russia's most bloodthirsty serial killersWorld March 27, 17:36
UK foreign secretary postpones visit to MoscowWorld March 27, 17:33
Putin to discuss steps to improve living standards in Arctic at international forumBusiness & Economy March 27, 17:18
Talk of devaluation was “rumour” and “somewhat illogical” amid recent rouble strengthening against the dollar, Kelimbetov said. But even if the Russian currency weakend slightly, “we have a margin of safety”, he added.
The tenge exchange rate now stands at the low end of the national bank’s range of 183 tenge to the dollar. The official rate at June 2 is 183.50 to the US currency.
In February, the national bank carried out a one-off devaluation, cutting the rate 20% to 183 tenge to the dollar.
Kelimbetov said the bank and the government planned a dedollarization programme by the year-end, aimed at increasing the tenge's appeal as a preferred investment and deposit currency.
“But we are not planning any artificial or non-market measures so I believe there are no reasons for concern,” the governor added, estimating dollarization of Kazakhstan's economy at 40-50% against Russia’s 20%