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Kazakhstan's National Bank is prepared to support the tenge using its gold and foreign currency reserves.

The National Bank of Kazakhstan has announced its readiness to support the exchange rate of the tenge using gold and foreign currency reserves, according to Bizmedia.kz.
Kazakhstan's National Bank is prepared to support the tenge using its gold and foreign currency reserves.

“In the event of unjustified pressure on the tenge that is not related to fundamental factors, the National Bank is prepared to increase the currency supply in the market using its gold and foreign exchange reserves,” the statement said.

Deputy Chairman of the National Bank Aliya Moldabekova specified that external factors continue to affect the tenge, including the strengthening of the dollar, the dynamics of the Russian ruble, as well as low activity in the currency trading on January 5.