"What we have been observing during the year - in general, in order to have expectations for inflation, again, in the last three years, various experts have been talking in the media about the fact that the exchange rate will be too high, but this has never happened. In fact, we have not had a devaluation for a long time, you know, because devaluation must always have clear fundamental grounds, now, of course, there are none. You see where our exports are - exports this year are much higher than last year. Imports have fallen. We have a healthier trade balance today. Therefore, at the moment, we have no grounds for devaluation,” Kasenov said on the sidelines of the Senate.
He assured that he is “a big fan of Kazakh currency.”
“The currency is stable. Of course, it can be influenced by various factors. Like any other currency, it will depend on the country’s exports and imports, so the rate can change under such influences, but in general, again, you see the stability of the currency, you see that the yield on deposits in the national currency is much higher than in foreign currency, even taking into account inflation. Therefore, I personally believe in the stability of the national currency,” Kasenov said.
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