Tenge Crashes As Low Oil Prices Take Dramatic Toll On Kazakh Economy

With the lifting of Iran sanctions, the Tenge has crashed 5% to record lows at 377/USD (extending the currencies collapse since the USD-peg was scrapped in August).
Furthermore, as Eurasianet's Joanna Lillis reports oil production is entering a new year of decline this year in Kazakhstan - a dismal omen for a country so heavily reliant on energy exports.