11 февраля 2014 21:29

Tenge meltdown disrupts e-Gov and online shopping in Kazakhstan

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Photo©Marat Abilov Photo©Marat Abilov

Today's devaluation of tenge in Kazakhstan has affected the work of the e-government website eGov.kz, Tengrinews reports citing the official Twitter account of electronic government in Kazakhstan. “In view of today’s news, rgw payment service on the website is temporarily unavailable. We will inform you when the service will resume its work,” the tweet said. The tweet raised a tide of discontent among Internet folks in Kazakhstan, but the e-government administration's only response was “We have informed our users that our banking tools for online payments are unavailable.” Meanwhile, many online shopping websites, including those of major Kazakhstani electronic and appliances retailers were unavailable as well. They took time to adjust their prices to the new exchange rate. The National Bank announced that the new exchange rage was going to be set to around 185 tenge per 1USD, because the bank was no longer going to support the tenge exchange rate at 155 per 1 dollar, would decrease its currency interventions and stop interfering into shaping of the tenge exchange rate. The news is causing uproar among the public with a number of exchange points closed until the currency is rate is determined. The exchange rate at local banks varies greatly with the average rate hanging in midair at 200 tenge per 1USD.


Today's devaluation of tenge in Kazakhstan has affected the work of the e-government website eGov.kz, Tengrinews reports citing the official Twitter account of electronic government in Kazakhstan. “In view of today’s news, rgw payment service on the website is temporarily unavailable. We will inform you when the service will resume its work,” the tweet said. The tweet raised a tide of discontent among Internet folks in Kazakhstan, but the e-government administration's only response was “We have informed our users that our banking tools for online payments are unavailable.” Meanwhile, many online shopping websites, including those of major Kazakhstani electronic and appliances retailers were unavailable as well. They took time to adjust their prices to the new exchange rate. The National Bank announced that the new exchange rage was going to be set to around 185 tenge per 1USD, because the bank was no longer going to support the tenge exchange rate at 155 per 1 dollar, would decrease its currency interventions and stop interfering into shaping of the tenge exchange rate. The news is causing uproar among the public with a number of exchange points closed until the currency is rate is determined. The exchange rate at local banks varies greatly with the average rate hanging in midair at 200 tenge per 1USD.
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