Dear All, By this time, you must have been aware of the news that Central Bank of Kazakhstan has stopped recommending currency band for exchange rate for Kazakh Currency Tenge effective from today 20 August, 2015. That means markets will determine the exchange rate for #KZT from today onwards.
Due to this new development #KZT has fallen by 70 tenge in two days, i.e. more than 30% devaluation and is currently selling at around 255 KZT per dollar as compared to 187 KZT one day ago.
I think all the visitors and residents of Kazakhstan will be closely looking at the unfolding developments in the country.
Any experts to tell us what future lies for us ahead?
Do share!
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