NBK previously stepped out from the issuance of 3-month and 6-month notes (since June and March 2022, respectively), going on with weekly issuances of 1-month notes. Now the frequency of 1-month notes issuances has been changed from weekly to once in 2 weeks. Thus, there is an absence of risk-free alternative short-term notes that the market could have absorbed amidst the excess liquidity on the market.
 

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Tengri Partners offers both local and international clients unlimited access to Kazakhstan’s money-market instruments including the repo market of up to 28 days, notes issued by the National Bank of Kazakhstan of up to 6-months and sovereign bonds of up to 1-year.