On the ratification of the Agreement between the Government of the Republic of Kazakhstan, the National Bank of the Republic of Kazakhstan and the Government of the Russian Federation, the Bank of Russia on measures to ensure mutual convertibility and stabilization of the exchange rates of the Russian ruble and the Kazakh tenge
Decree of the President of the Republic of Kazakhstan dated August 16, 1995 N 2408
In accordance with Article 2 of the Law of the Republic of Kazakhstan dated December 10, 1993 "On the temporary delegation of additional powers to the President of the Republic of Kazakhstan and heads of local administrations", I hereby decree: 1. Agreement between the Government of the Republic of Kazakhstan,
The National Bank of the Republic of Kazakhstan and the Government of the Russian Federation, the Bank of Russia on measures to ensure mutual convertibility and stabilization of the exchange rates of the Russian ruble and the Kazakh tenge, signed in Moscow on January 20, 1995, to ratify. 2. This Decree shall enter into force from the date of publication.
President
Republic of Kazakhstan
Agreement between the Government of the Russian Federation,
By the Bank of Russia and the Government of the Republic of Kazakhstan,
The National Bank of the Republic of Kazakhstan on measures
to ensure mutual convertibility and
stabilization of the Russian ruble exchange rates and
Kazakh tenge (Moscow, January 20, 1995)
(Official website of the Ministry of Foreign Affairs of the Republic of Kazakhstan - Entered into force on August 6, 1997)
The Government of the Russian Federation and the Bank of Russia, on the one hand, and the Government of the Republic of Kazakhstan and the National Bank of the Republic of Kazakhstan, on the other hand, hereinafter referred to as the Parties, reaffirming their commitment to the creation of an Economic Union and the phased formation of a Payment Union, taking into account the functioning of national monetary systems on the territory of both States using as legal tender in In the Russian Federation - the Russian ruble, in the Republic of Kazakhstan - the Kazakh tenge, taking into account the current state of the payment system.-the settlement relations between the Russian Federation and the Republic of Kazakhstan, recognizing the need for further work to unify the current legislation of the Russian Federation and the Republic of Kazakhstan regulating currency relations, respectively, agreed as follows:
Article 1 The Parties proceed from the fact that a necessary condition for achieving mutual convertibility of the Russian ruble and the Kazakh tenge is the phased implementation of measures by the Parties to stabilize their exchange rates against each other and against freely convertible currencies.
Article 2 The parties will implement measures to create a liquid foreign exchange market and ensure the functioning of parallel domestic foreign exchange markets in the Russian Federation and the Republic of Kazakhstan. The Bank of Russia and the National Bank of the Republic of Kazakhstan will provide regular (at least twice a week) quotes of the market exchange rate of the Russian ruble and the Kazakh tenge against each other and the US dollar, which will be conducted based on the ratio of supply and demand in the domestic foreign exchange markets of the respective countricle 2 The parties will implement measures to create a liquid foreign exchange market and ensure the functioning of parallel domestic foreign exchange markets in the Russian Federation and the Republic of Kazakhstan. The Bank of Russia and the National Bank of the Republic of Kazakhstan will provide regular (at least twice a week) quotes of the market exchange rate of the Russian ruble and the Kazakh tenge against each other athe US dollar, which will be conducted based on the ratio of supply and demand in the domestic foreign exchange markets of the respective countries. The parties will ensure the unification of the mechanism of currency control and regulation.
Article 3 In order to create a developed domestic market and establish a real exchange rate, the Parties will implement agreed measures to create the most favorable climate for the development of trade between the Russian Federation and the Republic of Kazakhstan.
Article 4 Settlements between economic entities of the two states may be carried out in Russian rubles or Kazakh tenge, and if there is mutual agreement - in freely convertible currencies.
Article 5 The Parties may provide loans to each other in Russian rubles and Kazakh tenge in accordance with the legislation of the Russian Federation and the Republic of Kazakhstan, respectively.
Article 6 The Bank of Russia and the National Bank of the Republic of Kazakhstan, when implementing exchange rate policy, will use the cross-rate of the currencies of the Russian Federation and the Republic of Kazakhstan against the US dollar. The exchange rates of the Russian ruble and the Kazakh tenge against each othArticle 6 The Bank of Russia and the National Bank of the Republic of Kazakhstan, when implementing exchange rate policy, will use the cross-rate of the currencies of the Russian Federation and the Republic of Kazakhstan against the US dollar. The exchange rates of the Russian ruble and the Kazakh tenge against each other are regulated by the Bank of Russia and the National Bank of the Republic of Kazakhstan through the use of centralized currency funds of the Russian Federation and the Republic of Kazakhstan at their disposal.
Article 7 The Bank of Russia and the National Bank of the Republic of Kazakhstan may conclude agreements on the mutual exchange of means of payment (SWAP type operations), conclude purchase and sale agreements for the Russian ruble and the Kazakh tenge.
Article 8 The Parties will take measures to amend the relevant legislative acts of their states in order to ensure the import and export by individuals of both countries in accordance with the requirements of the foreign exchange legislation of the Parties of cash banknotes of the Russian Federation aArticle 8 The Parties will take measures to amend the relevant legislative acts of their states in order to ensure the import and export by individuals of both countries in accordance with the requirements of the foreign exchange legislation of the Parties of cash banknotes of the Russian Federation and the Republic of Kazakhstan, establishing the procedure for their declaration, as well as measures to create a network of exchange offices in the territories of both states for cash transactions banknotes of the Russian Federation and the Republic of Kazakhstan.
Article 9 This Agreement will enter into force from the date of the last notification that the Parties have completed the necessary internal procedures in accordance with the national laws of the States of the Parties.
President
Republic of Kazakhstan
Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases
