Kazakh Foreign-Currency Deposits Climb to 9-Month High on Tenge

  • Tenge deposits drop 4.1% in October as currency woe persists
  • Central bank abandoned defense of tenge in August as oil fell

Kazakh foreign-currency deposits approached a nine-month high in October as the tenge continued to slide after the government abandoned its defense of the currency, encouraging companies and households put their cash in banks.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.