Will the dollar exchange rate reach 600 tenge

Tengrinews.kz – The Chairman of the National Bank Timur Suleimenov was asked whether the dollar exchange rate is expected to rise to 600 tenge.
Suleimenov expressed hope that the tenge exchange rate will remain stable and that the 600 tenge per dollar mark will not occur.

"Can I say as a simple person and as an employee of the National Bank, I hope that this will not happen for a very, very long time. I very much hope that the measures, our common measures - the economy, the government, various development institutions - will allow us to increase domestic production, reduce imports, ensure a healthy, strong trade balance, balance of payments, so that there is an inflow of export foreign exchange earnings, so that there are more dollars on the domestic market. This means that the more dollars on the market, the lower its value, the higher the value of the tenge. I hope that these measures will help, and we will not see 600 for a long, long time. I would like to wish this to all of us," the head of the National Bank said.

According to Timur Suleimenov, for this the National Bank needs to coordinate its work with the government.

"We need to work for this, we need to coordinate our work, coordinate our work with the government. I think each of us needs to work for this. Because our economy is a market economy, we don't have state trusts, state companies that build houses, that produce products, mineral water, paper or furniture - the market does all this. Specific Kazakhstanis who took the money, invested and are doing this. Therefore, if we all succeed and we reduce our dependence on imports, then the tenge exchange rate will be strong," he explained.