Former Soviet satellites' FX interest increasing

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Kazakhstan is due to see a liberalisation in its capital markets in October allowing a further increase in forex activity in the oil-rich nation. The country already represents the market with the most potential due to the large trade flows and relatively free capital markets, according to Caren Gaboutchian, economist at ING Bank in London.

He said: "There is a significant amount of money flowing into the country from a number of sources – up to $1 billion since the start of the year. It is