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Kazakhstan floats tenge, currency tumbles

Kazakhstan's under-pressuretenge (: KZTON=) lost more than a quarter of its value on Thursday after the oil producing central Asian nation, hit by a sharp fall in world crude prices, introduced a freely floating exchange rate for the currency. Acting against a backdrop of devaluation and depreciation in the currencies of some of its major trading partners and rivals, Kazakhstan's government ...
Source: Reuters
UPDATE 2-Kazakhstan floats tenge, currency tumbles

* Currency falls by a quarter as trading band removed * Country switches to inflation-targeting policy * Has been hit by low oil, commodity prices * Tenge also pressured by rouble fall, yuan devaluation (Adds quotes, details, background) ALMATY, Aug 20 (Reuters) - Kazakhstan's under-pressure tenge lost more than a quarter of its value on Thursday after the oil producing central Asian nation, ...
Source: Reuters | By: Mariya Gordeyeva Dmitry Solovyov