18 ноября 2015 17:59

Depreciation of tenge caused by appointment of National Bank's new Governor?

Photo © Turar Kazangapov

In the past few months, Kazakhstan's national currency tenge has plummeted significantly under the influence of external factors causing an upsurge in inflation in the country. The situation has once again gone back to what happened after the 2014 February devaluation - public loosing trust in the national currency. Some commentators blamed Kairat Kelimbetov, now former Governor of the National Bank for delayed decisions and inability to hold the national currency on the float. His recent resignation has caused another round of not-so-flattering commentaries. But among other things, Kelimbetov's resignation and possibly the appointment of Daniyar Ashirov as the New Governor has pushed the national currency in the feared 300 KZT to $1 zone.

Tenge currency dollar governor inflation Kazakh Kazakhstan National Bank news Central Bank

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