Kazakh National Bank will not conduct interventions until end-2024 unless situation in currency market changes drasticallyThe National Bank of Kazakhstan does not plan any interventions until the end of the current year unless the situation in the currency alters dramatically, Timur Suleimenov, the chairman of the National Bank, said at a briefing."As I have said, if there are no drastic changes and if there are no speculative jumps, which could be justified by fundamental or market factors, we won’t conduct interventions. We would only do it as a last resort," he said.There is no risk that the national currency may collapse, he added."The collapse is when the exchange rate drops by half in one day. As I said earlier, in the past two weeks, the exchange rate has been between 495 and 498 [tenge per USD], (…) which is only a 2% decrease but not collapse,” Suleimenov said.On November 28 the National Bank announced the start of currency interventions as the USD exchange rate had been growing in the previous days.From November 16 to 28 the regulator conducted currency interventions for a total amount of $1 billion in order to soften “the landing” of the national currency, Suleimenov said.Official exchange rate on November 29 is 513 tenge per $1. (ICE ALMATY)

Fonte notizia: Interfax