Tenge plunges to new depths

    Kazakhstan's national currency, the tenge, has reached a new low against the US dollar as Central Asia's largest economy continues to struggle with plunging global oil prices and the impact of Russia's economic crisis.
    On January 18, the tenge fell to 372.58 against the US dollar at the Kazakhstan Stock Exchange.
    That is the currency's lowest level since Kazakhstan moved to a free-floating exchange system in August 2015.
    Currency exchanges across the country were selling the US dollar for 374 to 375 tenge on January 18.
    In January 2015, the exchange rate in Kazakhstan for one US dollar was 183 tenge.
    The falling value of the tenge has sent economic shock waves across Central Asia, a region already struggling from the impact of low enerUy prices and economic slowdowns in Russia and China, according to RFE/RL.