The devaluation of the renminbi will have a positive impact on Kazakhstan's economy in the medium term

Almaty. August 19. Silkroadnews - The devaluation of the national currency in China may in the medium term have a positive impact on the economy of Kazakhstan, says a leading researcher at the Kazakhstan Institute of Economic Research Madiyar Kenzhebulat.
In the short term, he said, the depreciation of the national currency of China will not have a noticeable effect on the economy of Kazakhstan and to China will have a positive effect.
In turn, chairman of the JSC "Economic Research Institute" Maksat Mukhanov noted that in the medium term, a positive impact on the Kazakh economy could have a cancellation of international sanctions against Iran.
"In the case of lifting the sanctions against Iran, for Kazakhstan will be opened a relatively large and close market. I think it's a positive impact in terms of the possibility of establishing joint production and supply of our products. At present, Iran is already a consumer of a number of items of our products and we have even built a railway network for this", - said M. Mukhanov.
SDR, or Special Drawing Rights - an artificial backing and means of payment issued by the International Monetary Fund. Has only a cashless form in the form of entries in bank accounts, not the currency, is used to regulate the balance of payments, replenishment of reserves, the calculations on IMF loans.
The course of the SDR is based on the dollar value of a basket of 4 major currencies: US dollar, euro, yen and pound sterling. Weight of currencies in the basket is reviewed every 5 years.