Kazakhstan Intervenes to Deter Speculators as Tenge Extends Fall
- Kazakh central bank says it sold $144 million on Wednesday
- No fundamental reasons for tenge volatility, central bank says
This article is for subscribers only.
Kazakhstan’s central bank said it sold $144 million to discourage “speculative operations” on the currency market after the tenge slumped to its weakest level on record.
The interventions were aimed at stabilizing the situation on the local market in the absence of “fundamental macroeconomic factors” that could cause the tenge’s volatility, according to a statement on the central bank’s website.