National Bank of Kazakhstan official: Tenge strengthening cools foreign investor interest

Alia Moldabekova, Deputy Governor of the National Bank of Kazakhstan, said the tenge's gain against the dollar ranks among the top globally, and market appeal for Kazakh assets to foreign investors has declined accordingly. Moldabekova said the stronger tenge has reduced the country's attractiveness to institutional investors, who say they would consider additional investment if the tenge weakens slightly. The tenge has appreciated nearly 13% against the dollar this year, ranking among the world's best-performing currencies, behind only the Paraguayan guarani and the Colombian peso.