NBK allows Tenge to weaken – Now at 150 vs Dollar

    Kazakhstan's National Bank said on Wednesday it would stop supporting the tenge within its previous corridor and allow the national currency to depreciate to around 150 against the dollar.
    That would mark a drop of about 18 percent from Tuesday's trading session.
    The central bank also decided to cut its refinancing rate to 9.5 percent from Feb. 5 from a previous level of 10 percent, Central Bank Chairman Grigory Marchenko said in a statement, Reuters reports.