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Kazakhstan's currency plunges after central bank abandons USD peg

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The Kazakh currency, the tenge, has lost a quarter of its value against the US dollar after abandoning a peg to the Greenback. The country's national bank said the move to let the tenge float freely was to make its currency more competitive. Kazakhstan has been hit by a slide in the global price of oil. A barrel cost 100 dollars last year. It is now down to the level of 40 dollars. Kazakhstan has also affected by a fall in the value of rival currencies from other emerging markets. The Russi… READ MORE : http://www.euronews.com/2015/08/20/kazakhstan-s-currency-plunges-after-central-bank-abandons-usd-peg What are the top stories today? Click to watch: https://www.youtube.com/playlist?list=PLSyY1udCyYqBeDOz400FlseNGNqReKkFd euronews: the most watched news channel in Europe Subscribe! http://www.youtube.com/subscription_center?add_user=euronews euronews is available in 13 languages: https://www.youtube.com/user/euronewsnetwork/channels In English: Website: http://www.euronews.com/news Facebook: https://www.facebook.com/euronews Twitter: http://twitter.com/euronews Google+: http://google.com/+euronews VKontakte: http://vk.com/en.euronews
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Text Comments (1)
Coeus 2.0 (3 years ago)
$40 dollars a barrel? So what happened to all this scaremongering from the Climate hysterics that the only way was up for the oil price? Another false prophecy from the idiots who want our land covered in unreliable energy sources and happy for vulnerable people to die in the winter because of their egos.

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