Kazakh Tenge Drops to Record After $1 Billion Intervention
- More than $1 billion spent in interventions since Nov. 15
- Tenge weakens below levels seen when Russia invaded Ukraine
A cashier counts tenge banknotes.
Photographer: Andrey Rudakov/Bloomberg
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Kazakhstan’s currency tumbled to a record low on Monday after the central bank spent more than $1 billion on interventions over the past two weeks.
The tenge weakened to a record low of 530.83 per dollar at 2:37 p.m. local time in Almaty, according to data compiled by Bloomberg, bringing its loss this year to more than 13%. That’s the worst performance among currencies in the region after Russia’s ruble, which is down more than 15%.