The National Bank of Kazakhstan and the Kazakhstan Stock Exchange (KASE) do not rule out considering the issue of a complete suspension of exchange currency trading amid geopolitical uncertainty. This is stated in the joint statement of the regulator and KASE published on Monday.
“The National Bank together with the Kazakhstan Stock Exchange JSC made a decision to change the trading rules for the tenge-US dollar currency pair. In particular, on February 28, the auction will open at 15:00 Nur-Sultan time (12:00 Moscow time) in the Frankfurt auction format,” the document says.
It also notes that these measures are temporary, reflect a high degree of uncertainty and the need to minimize pressure from external geopolitical factors on the foreign exchange market and financial stability within the country. “At the same time, as the extremely uncertain conditions at the moment in the external financial markets change, the National Bank, together with the Kazakhstan Stock Exchange JSC, on February 28 until 15:00 Nur-Sultan time, may consider the issue of a complete suspension of exchange currency trading,” – indicated in the application.