Kazakh National Bank's head promises to keep free floating rate of tenge

Kazakh National Bank's head promises to keep free floating rate of tenge

National Bank of Kazakhstan will continue to adhere to the regime of free floating exchange rate, the National Bank's new chairman Yerbolat Dossayev said at a government meeting.

"The volume of net interventions of the National Bank in the foreign exchange market in February equaled zero," Sputnik Kazakhstan cited Dossayev as saying.

He said that inflation in February was 0.3% and annual inflation slowed to 4.8%. The National Bank's chairman also recalled that the base rate remains unchanged at 9.25%.

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