As a result of low oil prices in the world markets, sanctions against Russia, depreciation of Russian ruble and devaluation in China, Kazakhstan has had to accept the floating exchange rate regime and to start implementation of a new monetary policy since August 20, 2015.
Kazakhstan is one of the most successful transition countries that achieved to move to free market economy from centralized economy. Kazakhstan entered into the period of economic revival after the widespread reforms in mid-1990s.
Both developed and developing countries have accepted free market economy and according to free market rules, they have implemented open economic policies during globalisation process. As one of the developing countries, Kazakhstan also adjusted to this process.