Apple said it had halted online sales of iPhones, iPads and computers in Russia as the ruble's plunge made it difficult for sellers of imported goods to fix local prices.
The Russian currency crashed to unprecedented lows trading at 80 rubles to the dollar and 100 to the euro.
Experts say stagnation in the Russian economy has had its effect on the Kazakh-Russian trade turnover.
German Foreign Affairs Minister Steinmeier has called Kazakhstan an 'anchor of stability' in Central Asia but expressed worries that geopolitical situation in the region might affect economic cooperation between the two countries.
Russia's central bank said it was ready to step in to protect the crashing ruble, after the currency was hammered by a day of panic selling.
The continuing fall of the ruble exchange rate against dollar is taking its toll on the exports Kazakhstan is supplying to Russia.
Financial analyst Anna Kokoreva explains how the oil prices pressure Kazakhstan's economy.
Russia's ruble slumped to new all-time lows against the euro and dollar despite the central bank spending billions to defend the currency.
Rising inflation rate in Russia may force the National Bank of Kazakhstan to toughen its policies.
Cunning commuters would use anything but money to pay for a bus fare in Almaty.
With deals from London to Singapore, China is seeking a greater role for its yuan currency in global markets to challenge the hegemony of the almighty dollar.
Introduction of a common currency inside the Eurasian Economic Community that includes Kazakhstan, Russia and Belarus is irrelevant: Russian President's advisor.
An expert of Kazakhstan Ministry of Economic Development Madiyar Kenzhebulat said that 166 tenge per 1 dollar would be “the worst scenario” for Kazakhstan currency.
According to him, with the current prices for commodities the tenge is posed to strengthen.
According to him, Kazakhstan’s exporters are in a better position than their Russian counterparts.
If we talk of some reserve currency in our region, it should be a basket of the China’s renminbi, the Russia’s rouble and the Kazakh tenge: Kelimbetov.
- Central Asia
- National Bank
- Central Bank
- Asia Pacific
- United States
- Customs Union