National Bank of Kazakhstan resumes buying US dollars for UAPF's pension portfolioThe National Bank of Kazakhstan resumes the purchase of US dollars for the pension assets portfolio of the Unified Accumulative Pension Fund (UAPF), the planned purchase volume in March is maximum $250 million, the press service of the National Bank reported.Last year the share of foreign currency in the pension assets of the UAPF was gradually increased to 40%. "In order to diversify and increase the profitability of the UAPF's pension assets by investing in foreign markets, the National Bank plans to maintain the foreign currency share at a level of about 40%. Due to the strengthening of the tenge exchange rate and the receipt of pension contributions, the current foreign currency share of the UAPF pension assets has dropped to a level below 40%. In this context, the National Bank is resuming the purchase of US dollars for the UAPF pension portfolio. The volume of purchases planned for March will not exceed $ 250 million," the statement said.The National Bank explained that "the purchase of foreign exchange will be carried out depending on the market situation".As noted in the statement, in the short term the dynamics of the tenge will depend on the expectations of market participants, quarterly tax payments, the situation on the world markets and changes in the geopolitical situation. "The National Bank will continue to adhere to the flexible exchange rate regime, which excludes the accumulation of imbalances and ensures the safety of gold and foreign exchange reserves," the National Bank said. (ICE ALMATY)

Fonte notizia: INTERFAX