Kazakhistani Tenge

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Kazakhistani Tenge

The currency of Kazakhstan. It was issued in 1993, replacing the Soviet ruble. Kazakhstan was one of the last former Soviet republics to issue a new, national currency.
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The financing will be provided in local currency, Kazakh tenge, for up to an equivalent of US$ 35 million on a project finance basis.
Other nations in the southern reaches of the former Soviet Union have also been hit by the twin routs in Russia and Turkey, with the Kazakh tenge plunging almost four per cent this month, and Azerbaijan coming under pressure to loosen control over its currency.
The financial package will consist of two senior secured loans of up to US$ 30,000,000 in Kazakh tenge (KZT) equivalent from the EBRD and up to US$ 10,400,000 in US dollar and euro equivalents (US$ 8,786,000 and EU1,312,195) from the Clean Technology Fund.
However, we expect the depreciation of the Kazakh tenge against the US dollar to result in a wider market for Kazakh wheat among traders outside of these traditional destinations.
In view of S&P analysts, insurance companies in Kazakhstan will likely face further challenges in 2016, owing to the constrained economic prospects in Kazakhstan, GDP stagnation, a sharp devaluation of the Kazakh tenge in 2015 and appreciation in 2016, and increased risks related to Kazakhstan's banking sector.
Having downgraded our forecasts for the Kazakh tenge and oil price in 2016, we have also downgraded our forecast for real GDP growth to 1.0% from 1.6% previously.
The Kazakh tenge (KZT) weakened 20% in 4Q15 and 46% in FY15 vs.
He said, 'The trading sessions (of the Kazakh tenge at KASE) held over the past weeks have showed that with the traded volume being not very large, rocking the boat even in a small way can create an artificial deficit of the tenge and increase the volatility of the exchange rate.
After a due diligence review of Tethys and its business and in light of the recent Kazakh tenge devaluation and change in macro-economic conditions, Nostrum said it revised the price at which it would be prepared to make an offer.
The fall of the Russian ruble and the Kazakh tenge led to a significant depreciation of the Kyrgyz som against the U.S.
Flights from Glasgow to Karagandy, via London and Minsk, take more than 13 hours and were on sale yesterday for PS1551 (via website Skyscanner.com) which is equal to almost 400,000 Kazakh tenge (KZT).
Each publication posted on the G-Global platform is automatically taking part in the annual G-Global contest, divided over different scientific domains and have a chance to win a certificate/diploma and/or a prize in cash from an annual fund amounting to 5mn Kazakh tenge (around 25,000 euros or $33,000).
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