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Currency

World news about “Currency” published by euronews.

20/08 17:21 CET

Kazakhstan’s currency plunges after central bank abandons USD peg

Kazakhstan’s currency plunges after central bank abandons USD peg

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…