EFTA Document EFTA01379407

22 December 2017 EM Currency Handbook 2018: Still Fuel in the Tank Kazakhstan The tenge is the monetary unit of Kazakhstan, introduced in November 1993 to replace the ruble at a rate of 1 tenge = 500 rubles. A floating exchange rate regime was introduced in April 1999. However, the tenge remained a managed float and there was limited flexibility against the dollar or ruble in recent years. In August 2015, the tenge shifted to a free float. Due to this change, the tenge lost 30% of its