De Facto Peg To Remain In Play

We believe that the de facto peg of the Kazakh tenge to the US dollar, which started to emerge back in August 2007, will remain in play through the short-term. Though downside pressures emanating from the banking sector are likely to have largely subsided, we believe that the National Bank of Kazakhstan (NBK) will nonetheless continue to intervene on the foreign exchange market in order to maintain tenge stability.

To read the full article, please choose one of the following options: