RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of August 24, 2012 No. 242

About approval of Rules of establishment of the official rate of national currency of the Republic of Kazakhstan to foreign currencies

For the purpose of implementation of the Law of the Republic of Kazakhstan of July 5, 2012 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning the organization of activities of National Bank of the Republic of Kazakhstan, regulation of the financial market and the financial organizations" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of establishment of the official rate of national currency of the Republic of Kazakhstan to foreign currencies.

2. This resolution becomes effective after ten calendar days after day of its first official publication.

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of August 24, 2012 No. 242

Rules of establishment of the official rate of national currency of the Republic of Kazakhstan to foreign currencies

These rules of establishment of the official rate of national currency of the Republic of Kazakhstan to foreign currencies (further - Rules) are developed according to the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" and determine procedure for establishment by National Bank of the Republic of Kazakhstan (further - National Bank) the official rate of national currency to foreign currencies.

Chapter 1. The concepts used in Rules

1. In Rules the following concepts are used:

1) AIS - the automated information systems of National Bank;

2) cross-rate - the quotation between two currencies which consists of their rate in relation to US dollar;

3) authorized division - division of monetary transactions of National Bank;

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