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10% devaluation of national currency possible in Kazakhstan - economy ministe
Astana, January 18, 2009
The Kazakh Ministry of Economy and Budget Planning believe that due to the global financial crisis the devaluation of the national currency, Tenge, may be within 10%.
"We think that 10% is the limit for a smooth and gradual devaluation of Tenge," Bakhyt Sultanov, the minister of economy and budget planning, told journalists in Astana on Monday.
Current FOREX rate is 121.31/$1.