On Tuesday, January 14, the National Bank of Kazakhstan announced that it is developing a draft resolution "On Establishing Limits for the Deviation of the Purchase Rate from the Selling Rate of Foreign Currency for Transactions Conducted Through Exchange Points."
According to the draft, it is proposed to set limits for the deviation of the purchase rate from the selling rate of cash foreign currency for transactions conducted through exchange points:
- for the US dollar — 7 tenge;
- for the euro — 10 tenge.
As explained by the National Bank, "the proposed changes are primarily aimed at reducing speculative actions in the currency market, as well as covering the risks of financial market participants."
The restrictions will not affect exchange operations conducted in cashless form, as clarified in the National Bank's statement.