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ALMATY, Nov 11 (Reuters) - Kazakh central bank chairman Grigory Marchenko said on Wednesday he believed the fundamentals were right for Kazakhstan's national currency, the tenge, to appreciate. "From the point of view of objective economic reality, the tenge should strengthen against the dollar," Marchenko told a briefing, citing rising oil prices and improving current account. "We can provide for... greater opportunities for the national currency to strengthen," Marchenko said, commenting on the planned widening of the tenge trading band next year from the current range of 145 to 155 tenge per dollar. Kazakhstan recorded a current account surplus of about $300 in the third quarter, according to the central bank estimates, after several quarters of deficit. Global prices for oil, the key Kazakh export, have risen about 77 percent so far this year. Marchenko said earlier this week the central bank would widen the tenge trading band next year although the 150 tenge per dollar level would remain a guideline. Kazakhstan devalued the tenge by about 18 percent in February following a slump in oil prices and devaluations in Russia and other former Soviet Union countries. (Writing by Olzhas Auyezov; Editing by Dmitry Sergeyev) Keywords: KAZAKHSTAN TENGE/ (olzhas.auyezov@reuters.com; +7 7272 508500; Reuters Messaging: olzhas.auyezov.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
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