The rate of tenge came near to a point of relative balance and will be stabilized within several weeks, the Prime Minister of Kazakhstan Karim Massimov considers, RIA reports.

"I suppose that we are very close to the point of relative balance, we will see a stabilization of the tenge relations to dollar within several weeks. When we get to the balance point, when the situation will be stabilized, it will be possible to do long-term forecasts," Massimov said.

In August 2015, the currency corridor for tenge was canceled and the regime of free floating is introduced. Since then the tenge devalued to a dollar more than twice. The level of dollarization of deposits of individuals following the results of 2015 reached nearly 80%. The day before the average rate of tenge at the morning session of the Kazakhstan stock exchange (KASE) updated the historical minimum, having fallen to 383,23 tenges per 1 US dollar. The day before it was 372,03 tenges per dollar.

According to the prime minister, now two factors are very important for rate of national currency. "The first is the price of oil. And the second factor is we are in a common economic space with Russia," Mr. Massimov told.

Kazakh PM noted that the National Bank of Kazakhstan passed to the policy of inflationary targeting in the same way, as well as The Central Bank of Russia did.

Photo: en.tengrinews.kz