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An Obscure Currency Can Ruin the Markets: What We Learned This Week

Bloomberg, 21st Aug 2015 by Timothy Coulter

1) Currency rout

The race to the bottom of global currency markets is on.

You could blame China for devaluing the yuan earlier this month. Then this week the Central Asian state of Kazakhstan shocked markets by dropping control of its currency, called the tenge (pronounced TEN-gee).  The currency plunged 22 percent and ignited a debate over which country would be next. A list of 10 prime candidates eventually emerged. 

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