Kazakhstan Urges Russia, Belarus to Coordinate Currency Policies
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Kazakhstan urged Russia and Belarus to align currency policies between the three members of a customs union and avoid “sharp, unilateral” devaluations.
“If we move toward a joint economic space with Russia and Belarus, we need to form coherent currency policies,” Kazakh central bank Governor Grigori Marchenko told reporters in Almaty today. The central Asian nation was forced to weaken the tenge twice in the past 16 years “not for domestic reasons but as a result of sharp devaluations in neighboring countries.”