New limits on the deviation between buying and selling currency rates at exchange points will be established in Kazakhstan, as reported by Tengrinews.kz.
The National Bank has prepared a draft resolution "On Setting Limits on the Deviation of the Buying Rate from the Selling Rate of Foreign Currency for Tenge in Transactions Conducted Through Exchange Points". According to the draft, it is proposed to set the limits on the deviation of the buying rate from the selling rate of cash foreign currency in transactions conducted through exchange points to 7 tenge for the dollar and 10 tenge for the euro.
"The proposed changes are primarily aimed at reducing speculative actions in the currency market, as well as covering the risks of financial market participants. These restrictions will not affect exchange operations conducted in a cashless form," the statement said.
It is worth noting that previously, the limits on the deviation of buying and selling rates for currency were set at 15 tenge for the dollar and 20 tenge for the euro.
The deviation of the buying rate from the selling rate of foreign currency for tenge is defined as the difference between the buying rate of one unit of foreign currency in the national currency and the selling rate of one unit of foreign currency in the national currency established for the exchange point.
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