March 20, 2019 / 4:39 AM / a month ago

Kazakh tenge little changed after president resigns

ALMATY, March 20 (Reuters) - Kazakhstan’s tenge currency edged down 0.5 percent in early trading on Wednesday following the surprise resignation of veteran leader Nursultan Nazarbayev who has run the Central Asian nation for three decades.

The former Soviet republic’s government and central bank said in a joint statement on Wednesday that there would be no changes to their economic policies and that the central bank was capable of preventing any “speculative operations”.

Kazakhstan’s international bonds and London-listed shares of the country’s largest lender, Halyk Bank, fell late on Tuesday after Nazarbayev said he would step down.

However, Nazarbayev, 78, said he would retain the key posts of the security council chair and the leader of the ruling Nur Otan party, indicating he plans to ensure a smooth political transition in the oil-exporting nation. (Reporting by Olzhas Auyezov; Editing by Sam Holmes)

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