The national Bank of Kazakhstan in January-November of conducted currency interventions to $18 billion

Moscow. December 22. The national Bank of Kazakhstan in January-November 2015 carried out intervention on the Kazakhstan stock exchange (KASE) in the amount of almost $18 billion.

In January-October the volume of interventions amounted to $17.4 billion in November and $577 million, said Tuesday the head of the national Bank Daniyar Akishev. He said that in 2014 the size of the interventions reached $22 billion.

Kazakhstan on 20 August moved to free floating exchange rate of tenge. Now the course is based on the fundamental internal and external macroeconomic factors. The national Bank does not interfere in the formation of the exchange rate, but reserves the possibility of conducting currency interventions to ensure the stability of the financial system of the country.

In the middle of September the exchange rate of tenge to us dollar sharply decreased, forcing the national Bank to step up intervention in the foreign exchange market to stabilize the situation. In particular, in the second half of September, the regulator intervened on KASE amounting to more than $1 billion.

In early November the national Bank reported a decrease in participation at the domestic foreign exchange market in order to preserve its foreign currency assets and assets of the national Fund.