National Bank Chief Suleimenov on Oil Prices Driving Tenge Strength
Summary
National Bank Chairman Timur Suleimenov noted that high oil and metal prices are putting upward pressure on the Kazakhstani tenge.
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Additional export revenues from Kazakhstan's main commodities, primarily oil and metals, are putting upward pressure on the tenge against major foreign currencies, according to National Bank Chairman Timur Suleimenov.
The head of the central bank emphasized that current commodity market conditions remain strong, with oil trading near $100 per barrel, supporting the domestic currency and foreign trade balances.
Source: Kursiv
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