21 августа 2015 17:27

Making sense of Kazakhstan's decision to float tenge

Photo courtesy of gu-unpk.ru.

On August 20, the day known as Black Thursday, the Kazakh tenge plunged to its record low losing 23 percent against the US dollar after the country floated its currency renouncing the previously set corridor and pursuing inflation targeting monetary policies.

Tenge China CIS devaluation economy Karim Massimov Kazakh Kazakhstan news policy Russia Central Asia

TENGRI LIFE

TENGRI TRAVEL