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No preconditions for the next devaluation of Kazakh tenge - expert

July 28, 2014

There are no preconditions for the devaluation of Kazakh tenge, senior analyst of Alpari company Anna Bodrova said in an interview with CA-News.

The past five days, the dollar/tenge exchange rate was in the boundaries of a very narrow corridor, and it is likely that it will keep being in there by late July, said Bodrova.

According to the expert, the U.S. dollar will remain at 183,50 - 183,55 tenge, the European single currency will - 247,0 - 247,50 tenge with a tendency to weaken.

Russian Rouble is ranging at 5,22-5,25 tenge. "There is also a tendency of tenge's strengthening against the Russian currency," she added.

"In general, the activity of the foreign exchange market is now limited by the presence of the National Bank of Kazakhstan on-site and the background," said Bodrova assuring there will not be a devaluation.

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Source: AKIpress News Agency (Kyrgyz Republic)

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