Earlier, the management of the National Bank has repeatedly said that exchange offices allegedly deliberately provoke excessive demand for foreign currency and huge profits due to the high volatility of the prices of purchase and sale of foreign currency.
ALMATY, Dec 22 – Michael Egorin. The Chairman of the National Bank of Kazakhstan Daniyar Akishev does not consider the exchange of cash the main sources of currency speculation in the market and don’t see the need to restrict their activities.
Earlier, the management of the National Bank has repeatedly said that exchange offices allegedly deliberately provoke excessive demand for foreign currency and huge profits due to the high volatility of the prices of purchase and sale of foreign currency.
“Exchange offices are, I think, primarily, not a source of speculation, most of them are consumers. They respond to those threads that occur on the exchange. And these flows are much larger than those that pass through the cash exchange offices. In this regard, we are not planning to somehow radically change the rules of the game in this market”, — he said Tuesday at a press conference in Almaty.
Akishev emphasized that, in his opinion, “the national Bank should not by administrative means to solve the common exchange rate in the country.”
However, he noted that at present the national Bank is studying the issue of implementing some of the activities “connected with systematizing their activities,” including those aimed at improving the safety of currency transactions of citizens and the sustainability of this institutional environment.
In August, the national Bank and the government announced the abandonment of the currency corridor and the vacation of the national currency to float freely, after which the rate of tenge to the dollar has now fallen by more than 85%.
