ALMATY: Kazakhstan said on Tuesday it would allow its national tenge currency to devalue by 19% to about 185 per dollar because of a decline in other emerging market currencies and in order to try to prevent large-scale speculation on the forex market.
Shortly after the announcement by the central bank, the official rate of the tenge fell to 163.90 to the dollar from 155.56 on Monday.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
