Joint statement of the National Bank of the Republic of Kazakhstan and Kazakhstan Stock Exchange JSC

19.03.20, 12:08
/KASE, March 19, 2020/ – Over the past day, the volatility on global financial markets increased significantly. The Brent oil price reached 25 dollars per barrel, decreasing by 14 % over the day, and by more than 60% since the beginning of the year. Global stock and currency markets continue falling. The Russian ruble weakened by 7.3% over the day, and by more than 30% since the beginning of the year. Under these circumstances, in order to curb the destabilizing impact of external factors on the local currency market and for purposes of maintaining the financial stability of the Republic of Kazakhstan, the National Bank of the Republic of Kazakhstan together with Kazakhstan Stock Exchange JSC took a decision to conduct trading in the currency pair tenge-dollar on March 19 and 20 in form of the Frankfurt auction. The decision on conducting the trading in form of the Frankfurt auction will allow satisfying available client orders and preventing the situation on the currency market from destabilizing. Updates on the further trading mode will be communicated via public statements. [2020-03-19]