Protests in Kazakhstan are starting to arise after the recent devaluation (Feb. 11) of the countries national currency the tenge. The value of the tenge fell by 19%, this fall has lead to an increased wariness and fear among detractors of president Nursultan Nazarbayev who believe the devaluation will lead to a spike in inflation and fall in standard of living. The country is one rich in natural resources (oil) but is one that imports many consumer goods. Central-bank chief Kayrat Kelimbetov, the man that announced the devaluation while Nazarbayev was in Sochi, Russia at the recent Olympic games, cited tapering of American quantitative easing in America and a falling rouble (the Russian currency) as reasons behind the recent devaluation.
http://www.economist.com/news/asia/21597005-anger-devaluation-hints-broader-malaise-tenge-fever
The decrease in value is certainly a big one, and in such a short period of time. Kazakhstan could bounce back however if they were to make a striving, unified effort. For example, if they were to increase their interest rates relatively quickly, other countries would perhaps begin to move money to banks there with confidence that they would see the money grow more than it would in their own country. Another potential way Kazakhstan could raise the value of the Tenge would be by setting long term policies. A stronger exchange rate is important, and if they were to set policies inflation and economic stability, there's potential to see growth in that value.
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