Influence of international currency relations on Kazakhstan’s economy

Abstract

The analysis of recent Kazakhstan national currency tenge exchange
rate devaluation causes. Tenge devaluation is considered by the authors,
first of all, as a result of influence of prevailing international currency relations
on Kazakhstan economy. This situation is substantiated by analysis of
main macroeconomic and external economic indicators, the evaluation of
influence of individual external and internal factors on these indicators is
given. The first influenced fact on external markets is the slowdown of Russian
economy and the decrease of ruble exchange rate, which significantly
changed Kazakhstan economic development, as the cheap ruble contributes
to Kazakhstan enterprises’ competitiveness decrease and increase of
Russian import. The second fact is the Yuan devaluation, as China is the
biggest player on metals market, and decrease of its economy can negatively
influence on the level of metals prices, which are the big share of
Kazakhstan export.