U.S. currency experiences price surge on August 11
Kazakhstan's Currency Market: A Closer Look
The Kazakhstan Stock Exchange (KASE) has been a significant player in the country's foreign exchange market. Over the past year, the exchange rate of the US dollar on KASE has generally been slightly lower than the official exchange rate set by the National Bank of Kazakhstan.
On August 19, 2025, the weighted average USD/KZT rate on KASE was 538.57 tenge, below the official National Bank rate of 540.00 tenge. Exchange office rates, meanwhile, ranged roughly between 538.77 and 540.60 tenge per dollar.
This trend of the tenge weakening relative to the dollar has been consistent across KASE, official rates, and exchange offices. The average exchange rates set by exchange offices for the dollar are: purchase - 542-543 tenge, sale - 544-545 tenge.
The average weighted exchange rate of the dollar at the close of trading on August 19 was 542.66 tenge, an increase of 2.85 tenge compared to the previous day.
In addition to the KASE and exchange office rates, the official exchange rate set by the National Bank is a key indicator in the market. For August 11, the official rate was 539.49 tenge per dollar.
The Euro also plays a role in the Kazakh currency market. The average exchange rates set by exchange offices for the Euro are: purchase - 629-631 tenge, sale - 633-634 tenge. The average weighted exchange rate of the Euro at the close of trading on KASE is 630.3 tenge.
The Ruble is another currency often traded in Kazakhstan. The average exchange rates set by exchange offices for the Ruble are: purchase - 6.5 tenge, sale - 6.78 tenge.
It's worth noting that the rates have shown some volatility in 2025, influenced by economic factors and government announcements. For instance, the revised exchange rate forecast to 540 tenge per dollar for 2026 was announced in mid-2025. Earlier in the year, the January to July average KZT/USD was 514.84, indicating some depreciation through the months.
Factors influencing these changes include government FX forecasts, economic pressures, and market dynamics. It's important to keep an eye on these factors to understand the current state and future trends of the Kazakh currency market.
- Despite the Kazakhstan Stock Exchange (KASE) rates being slightly lower than the official National Bank rates, they still play a significant role in the country's foreign exchange business, particularly with the exchange rate of the US dollar.
- The financial industry is influenced by various factors, such as government FX forecasts, economic pressures, and market dynamics, all of which affect the business of exchanging currencies like the Euro and Ruble in Kazakhstan's currency market.
