A confused monetary policy and a shortage of old pre-1993 roubles is causing enormous problems for computer vendors in Kazakhstan. All are now being forced to set their own exchange rates for the three different versions of the roubles in the republic. Old Russian roubles remain legal tender in the country because of a continuing shortage of new notes. Kazakh roubles are available in the greatest quantity but it is very difficult to transfer Kazhak roubles to Russia, (either as bank transfers or in cash), since no-one is now permitted to leave the country with more than 500,000 roubles in cash. The result has been frenzied trading at the republic’s currency exchanges and computer vendors have been put in a very risky situation should they choose to sell their products for the local soft currency. In late September the average exchange rates were: one old rouble cash was worth 1.4 to 1.5 transferable Kazakh roubles; 1 new Russian rouble – 1993 issue – rouble cash was worth 1.3 to 1.5 old roubles cash. And one US dollar is worth 2,300 to 3,000 transferable Kazakh roubles. For decades the official exchange rate was one rouble to one pound sterling.
