Samruk-Kazyna, The National Welfare Fund of Kazakhstan which unites more than 10 national companies, prepares to adapt for the weakening of tenge till 420 per dollar in this year. Elena Bakhmutova, the board member of Samruk-Kazyna, told about such possible scenario to Reuters.

According to the fund manager, Samruk-Kazyna is going to adjust to the stressful scenario when the cost of the dollar will go up to 420 tenges as well as the price of oil decreases till 20 dollars a barrel.

And the basic scenario, which introduced several weeks ago, was aimed to fit  the cost value of 25 dollars a barrel when 1 US dollar will be about 400 tenges, According to Bakhmutova.

Optimistical option for development of the group of companies of Samruk-Kazyna fund is to sell a barrel of oil for 35 dollars, thereby exchange rate stabilizes in 380 tenges per 1 US dollar.

Since August 20, 2015, the national currency of Kazakhstan lost nearly a half of cost to the dollar  because the authorities of National Bank declared transition to free floating to a rate of tenge.

The official rate of dollar set by National bank of Kazakhstan for today is 380,3 tenges.

Photo: kazfin.info