Kazakhstan to widen tenge’s corridor to 185 tenge plus 3/minus 15 to dollar

Sept 3. Reuters. ALMATY

Kazakhstan to widen tenge's corridor to 185 tenge plus 3/minus 15 to dollarKazakhstan plans to widen the tenge’s trading corridor against the U.S. dollar to 185 tenge plus 3/minus 15, the head of the Kazakh central bank Kairat Kelimbetov told reporters on Wednesday.

“We plan to take this decision this week,” he said.

The current corridor stands at 185 plus/minus 3 per dollar.

In February the central bank devalued the tenge by 19 percent to about 185 per dollar, taking the wind out of the sails of speculators and adjusting to the freer rouble of its main trading partner Russia.