Nazarbayev made the statement during a meeting with the head of the central bank and key government members, just hours after the country's tenge currency neared the upper limit of its trading range.
Pressure on the tenge has risen as oil prices have slipped below $50 and the rouble of its biggest trading partner Russia fallen around 15 percent.
Furthermore, neighbouring China devalued its yuan last week, causing a rout in most other emerging market currencies.
"The head of state stressed that due to the new economic reality it is needed to adapt to oil prices at $30-40 per barrel," the presidential press service said.
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