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https://castle-familyoffice.sg/media/our-articles/why-does-the-tenge-fall-while-oil-prices-are-good/
The high correlation between the tenge and the ruble, caused by the mirror image of the economies based on energy prices, has shown for the first time the ramification of the causes of this phenomenon. Thus, even though oil prices are now on high, another reason for the high correlation between the tenge's exchange rate and the ruble, is the trade partnership between Russia and Kazakhstan, which is growing every year