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“The market was attractive for foreign speculators but the central bank saw these moves as dangerous” Jurgen Rigterink, ABN Amro |
Kazakhstan is about to take another step on the path to becoming a recognized mainstream economy by removing restrictions on its currency, the tenge. The country plans to make the tenge fully convertible this month. “On January 1 the free flow of capital will be allowed, another step towards the tenge becoming fully convertible later,” says Arken Arystanov, chairman of the Regional Financial Centre of Almaty.
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