WRITE for ATol ADVERTISE MEDIA KIT GET ATol BY EMAIL ABOUT ATol CONTACT US
Asia Time Online - Daily News
             
Asia Times Chinese
AT Chinese




    Central Asia
    


Migrants feel pinch of Kazakh devaluation
By Farangis Najibullah

When relatives and guests gathered for dinner recently at Mamnuna Bobokulova's rented three-room apartment outside Almaty, there was only one topic of conversation: the impact of the recent devaluation of the tenge, Kazakhstan's national currency.

Bobokulova and her guests are all Tajiks who work as migrant laborers in Kazakhstan. Like anyone else who earns and keeps


their savings in the tenge, migrants, too, have witnessed their funds shrink by nearly 20% overnight as a result of the February 11 devaluation.

Bobokulova says she and fellow migrants have learned quickly that they stand to suffer more when economic and political crises hit their host country. She feels the impact of the devaluation on her and her family when she transfers money to Tajikistan. This is because remittances are transferred only in US dollars.

"Yesterday, I took 30,000 tenges to send to my in-laws. What was equal to US$200 before the devaluation bought only $160," Bobokulova says. "It's a big blow to our family budget. You feel the pain right away."

More ...

Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave NW, Washington DC 20036. For original article, see here

Copyright (c) 2014, RFE/RL Inc.









 

 

 
 



All material on this website is copyright and may not be republished in any form without written permission.
Copyright 1999 - 2014 Asia Times Online (Holdings), Ltd.
Head Office: Unit B, 16/F, Li Dong Building, No. 9 Li Yuen Street East, Central, Hong Kong
Thailand Bureau: 11/13 Petchkasem Road, Hua Hin, Prachuab Kirikhan, Thailand 77110