​Kazakhstan tenge falls to 35.5% after the abolition of the corridor

After the abolition of the currency corridor weighted average rate of tenge was 255.26 tenge for dollar against 188.38 tenge on the eve

Baku. 20 August. REPORT.AZ/ The average rate of tenge in the morning main trading session at the Kazakhstan Currency Exchange (KASE) reached the level of 255.26 tenge for dollar against 188.38 tenge on the eve, by falling to 35.5%, Report informs citing Russian media.

On Thursday, the Prime Minister Karim Masimov announced that Kazakhstan has launched a new monetary policy based on free floating tenge, and canceled the currency corridor.

According to stock exchange, the trading volume was 115.550 million USD.

In mid-July, the National Bank expanded corridor fluctuations of the exchange rate of tenge from 170-188 tenge to 170-198 tenge per US dollar, saying that it is deteriorating external environment and, above all, and connected it with the decrease in oil prices.

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