Kazakhstan cenbank to protect tenge from rouble volatility

Kazakhstan's central bank said on Sunday it expects the Russian rouble to be highly volatile in coming days due to Western sanctions against Russia and stands ready to intervene and support the local tenge currency.

The bank said it would stick to a flexible exchange rate policy and only use interventions in order to "curb the unwarranted impact of excessive rouble fluctuations on the tenge".

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)