| There’s something Wild West about currency devaluations. Not just because they’re the mainstay of frontier economies, but there can be a pretty big element of unpredictability about how they pan out.
News that Kazakhstan was devaluing its currency by nearly 20% against the dollar follows widespread currency slides across emerging markets during recent months. In some cases, the national governments welcomed their currency’s weakness. Like Russia, which is looking for a weaker ruble to help spur flagging economic growth...............................................Full Article: Source
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