finances in the East

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Turkish lira drops record amount

The national currency of Turkey fell a record amount against the backdrop of a failed coup attempt, mass dismissals in the army, courts and prosecutor's office. The lira dropped to 3.08 per the US dollar after the S&P rating …

Kazakh Central Bank cuts key interest rate to 13%

Kazakhstan’s central bank cut its key interest rate from 15% to 13%. “There’s a high probability that inflation can be expected to reach the upper bound of the 6 percent-8 percent target corridor by end-2016. A …

IBRD allocates Kazakhstan $1 billion

The International Bank for Reconstruction and Development (IBRD) has approved a $1 billion loan with an interest rate of 1.5% to finance Kazakhstan's development policy in macroeconomic management and growth of the economic competitiveness of …

Russia ratifies law on CIS integrated currency market

Russian President Vladimir Putin has signed a law on ratification of the Agreement on the CIS integrated currency market, which will create an integrated currency market within the borders of post-Soviet Commonwealth. …