World Economy

Kazakh Tenge at All-Time Low

Kazakh Tenge at All-Time LowKazakh Tenge at All-Time Low

The weighted average of the Kazakh tenge fell to an all-time low of 355.52 per dollar in the main morning session on the Kazakhstan Stock Exchange on Monday, Reuters reported. It traded at 351.85 in the previous main trading session. Crude oil prices fell over 2% on Monday as China’s economic slowdown dented the outlook for demand. Monday’s decline added to last week’s drop of more than 10% in both Brent and WTI prices to start the year. Kazakhstan’s central bank has from Jan. 6 used the weighted average rate of the previous day’s two sessions as the official rate.