Kazakhstan Authorities Announce Plans To De-Dollarize Economy

by Tyler Durden, via Zero Hedge.com: 

Following the approval of the government, Kazakhstan’s Central Bank has announced it plans to de-dollarize its economy by the end of 2016. The goal is to avoid the macroeconomic instability that the USD creates and to give priority to Tenge in trade agreements (banning price designations in foreign exchange). Coming just 2 weeks after the ratification of the $100 billion BRICS bank, and Russia’s creation of a SWIFT-alternative, one wonders – as one by one foreign nations agree non-dollar trade and swap agreements – who is becoming ‘isolated’ now?

The Tenge is at record lows against the USD…

Full Zazakhstan Central Bank Statement (via Google Translate):

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