Free-floating tenge will not stop Kazakhstani downturn
Suffering from low oil prices and economic challenges, Astana has introduced a free-floating exchange rate for the tenge
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In this article
- Post-2014 pressure on tenge
- Oil slump
- Protecting tenge is expensive
- Ruble and renminbi devaluations
- Exports fall
- Domestic implications
- Erosion of purchasing power
- Regional disparities
- Banking sector plagued by bad assets
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_350.jpg "Kazakhstan's Prime Minister Karim Massimov (Reuters/Edgar Su)")