Kazakhstan Devalues National Currency | Business | RIA Novosti:
"ALMATY, February 11 (RIA Novosti) – Kazakhstan’s central bank devalued the national currency by 18.9 percent Tuesday in an effort to prevent the destabilization of the country’s economy.
The oil-rich Central Asian state will keep the tenge at a rate of 182-188 to the US dollar, Kazakhstan’s National Bank said in a statement. The official rate of the tenge was 155.56 to the dollar Monday.
Kazakhstan will ease support for the national currency and reduce interventions on the market, the Almaty-based bank said. In recent years, Kazakhstan had maintained the tenge’s value at 145-155 per dollar."
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