Tokayev tasks National Bank of Kazakhstan with ensuring stability of national currency

TASS Russian News Agency | Jan 11, 2022 at 10:44 AM

/Updates, adds details after para 2/

NUR-SULTAN, January 11. /TASS/. Kazakh President Kassym-Jomart Tokayev has tasked the National Bank and the Agency for regulation and development of financial market with ensuring the stability of the national currency.

"Amid the events [during] the emergency state serious risks of speculative pressure on the national currency occurred. I task the National Bank and the Agency for regulation and development of financial market with ensuring the stability of the foreign exchange market until the confidence in the tenge of domestic and foreign market participants fully recovers," he said addressing the Mazhilis (lower house) on Tuesday.

It is impossible to ensure sustainable economic growth in the country without stability on the foreign exchange market, the Kazakh leader noted.

Earlier, the operation of all banks, excluding the National Bank, as well as of the stock exchange, was temporarily suspended in the republic. The regulator put the work of exchange offices on hold for safety reasons.

Protests erupted in several Kazakh cities on January 2, escalating into mass riots with government buildings getting ransacked in several cities a few days later. The ensuing violence left scores of people injured, with fatalities also being reported. Subsequently, Kazakh President Kassym-Jomart Tokayev turned to the Collective Security Treaty Organization (CSTO) requesting assistance from the Russia-led bloc. As a result, peacekeepers have already been deployed to Kazakhstan. Law and order, Kazakh authorities affirm, was restored to all of the country's regions by the morning of January 7. However, the situation remains tense in Almaty.

More sources
  • Tokayev tasks National Bank of Kazakhstan with ensuring stability of national currency (TASS Russian News Agency: 2022-01-11 08:02:17+00:00)