“Since November 16, we have initiated interventions, spending 1 billion dollars on this,” Suleimenov clarified.
When asked about future interventions, he noted that the National Bank does not aim to maintain any specific exchange rate.
“The market itself determines the dollar rate based on the balance of supply and demand. We participate as a player: sometimes we implement transfers from the National Fund, and sometimes we buy currency. We conduct interventions not out of desire, but to stabilize the market during critical moments,” the chairman explained.
According to him, in the last 10 days, the market has experienced high demand for currency, especially for foreign economic operations, which prompted the intervention. However, interventions are currently on hold, and the exchange rate is formed solely under the influence of market factors.
“If there are no sharp and unjustified jumps related to factors outside market logic, we do not plan to conduct new interventions,” Suleimenov emphasized.