Details added (first version posted on 9:48)
BAKU, Azerbaijan, Feb. 8
By Nargiz Sadikhova - Trend:
The development of a digital tenge platform prototype has been completed in Kazakhstan, Chairman of the National Bank of Kazakhstan Galymzhan Pirmatov said at a governmental meeting, Trend reports with reference to the National Bank.
The national bank initiated a pilot project to introduce the digital tenge in 2021. The development of a platform prototype has been completed. The final report on the results of the pilot project was published in December 2021. The final decision on the digital tenge implementation model will be developed this year and the benefits and costs will be assessed.
Pirmatov said that a set of measures to improve the quality of the assets of the banking system was implemented jointly with the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market to increase the stability of the financial system.
The foreign exchange market was quite stable in 2021 despite the volatility of external markets. The tenge exchange rate for 2021 decreased by 2.6 percent to 431.8 tenge per US dollar.
