Currency devaluation Kazakhstan

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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I have tried to make some sense, if any in my blogpost. You can have a look at it here: ***

Moderated by Bhavna 8 years ago
Reason : Please do not post external links to your blog
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I have come with a follow up post on this. It can be read HERE: ++++

In the post, I try to examine the impacts of devaluation on costs of products in Kazakhstan. Are we facing an inflation, thereby increase on price of goods? I have made an attempt to examine.

(Note to Moderators: I am not posting any link for commercial gains. The link posted is to attract the wider discussion on the subject to the "interested" ones rather than posting everything under the sun in this forum as not everyone will be interested. So, IMHO, such links should be allowed to stay in the forum!)

Moderated by Maximilien 8 years ago
Reason : broken link
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