National Bank of Kazakhstan is able to effectively manage the national currency without subjecting it to another “stress” which would result from a repeated adjustment of the Tenge exchange rate.

So says Juha Kyahkonen, Deputy Director of the IMF Middle East and Central Asia Department, Zakon.kz informs  citing Bloomberg.

 “Kazakhstan has the necessary reserves to minimize any short-term fluctuations of Tenge,” – he said.

There are virtually no evidence that Tenge is overvalued, foreign analysts believe.

Jacob Nell and Alina Slyusarchuk – Morgan Stanley analysts, said that strong Kazakhstan economy has excellent prospects in the oil industry, and this explains why Tenge should strengthen against Rouble. “In addition, we see that Kazakhstan has a higher level of protection against dropping oil prices than Russia,” – they added.