Russia submits amicus curiae brief to US Supreme CourtRussian Politics & Diplomacy March 25, 3:34
Russia, China suggest for UN SC to adopt resolution on chemical terrorism threatRussian Politics & Diplomacy March 25, 3:23
Russian lawmaker compares European Union to Soviet UnionRussian Politics & Diplomacy March 25, 3:16
Russian emergencies ministry says fire at Kazan’s gunpowder factory fully extinguishedWorld March 25, 3:01
Relations btw US, Russia worst over half-century - Lukin quoting KissingerRussian Politics & Diplomacy March 25, 2:58
Russia suggests setting up international coalition for demining operations in SyriaRussian Politics & Diplomacy March 25, 1:08
One person dies in fire at gunpowder factory in Russia's KazanWorld March 24, 21:47
Russia's 'Gentlefan' baton passed on to Krasnodar ahead of Cote d’Ivoire friendlySport March 24, 21:34
Brazil’s football star Carlos: Germany, Portugal to meet in 2017 Confederations Cup finalSport March 24, 20:45
GORKI, February 12. /ITAR-TASS/. Russian First Deputy Prime Minister Igor Shuvalov downplayed the devaluation of Kazakhstan's national currency, the tenge, saying it will not impact the Russian economy.
"How can it affect us? We have no currency union," Shuvalov told reporters.
Kazakhstan's National bank (NBK) announced its decision to stop supporting the exchange rate of the national currency /the tenge/ from Tuesday, February 11, by reducing exchange market interventions and interference in the processes forming the tenge exchange rate.
"The National Bank expects the tenge's exchange rate to be at 185 tenge per one US dollar," the NBK said.
As of February 11, the official tenge exchange rate was at 155.5 per US dollar. The NBK therefore weakened the national currency by some 20%.