Current exchange rates for August 8: Dollars, Euros, Rubles
The Kazakhstani tenge (KZT) is the national currency of Kazakhstan, and its exchange rates against various global currencies are influenced by several key factors.
Inflationary pressures, oil prices, central bank interventions, speculative and geopolitical factors, and market liquidity are the primary determinants of the tenge's exchange rates. High inflation, driven by utility reforms, VAT hikes, and imported inflation from Russia, weakens the tenge, as seen in June 2025 when inflation reached 11.8%.
Kazakhstan's economy is heavily reliant on oil exports, and a decline in oil prices reduces export revenues, weakening the tenge. To stabilise the tenge amidst depreciation and market speculation, the National Bank of Kazakhstan has intervened in foreign exchange markets. Speculative pressure and geopolitical events, such as U.S. sanctions threats on Russia, increase volatility and contribute to depreciation, despite Kazakhstan not being directly sanctioned. Low liquidity in foreign exchange markets makes the tenge more vulnerable to sharp moves.
In 2025, the tenge depreciated significantly, with the KZT/USD rate hitting historical lows around 545-550 KZT per USD by mid-year, representing a 3.3% to 5.8% decline year-to-date.
Regarding exchange offices in major cities like Almaty, Nur-Sultan (Astana), and Shymkent, specific detailed data from exchange offices was not found. However, exchange offices in these urban centres usually offer exchange rates close to the official or interbank rates but include a margin or spread as their profit. Due to the tenge's increased volatility and low liquidity, the buy/sell rates in exchange offices can differ more significantly, especially during episodes of sharp depreciation. Urban centres, having more competitive markets and higher transaction volumes, tend to offer better rates than smaller towns. Rates offered in physical exchange offices may lag or vary slightly from realtime interbank or central bank indicative rates due to less frequent updating, operational costs, and risk premiums.
As of the latest data, the official exchange rates for major currencies against the tenge are as follows:
- The British Pound (GBP): 721.58 KZT
- The US Dollar (USD): 539.38 KZT
- The Euro (EUR) in Shymkent: 620 - 625 KZT
- The US Dollar (USD) in Shymkent: 537 - 539 KZT
- The Russian Ruble (RUB) in Nur-Sultan: 6.5 - 6.7 KZT
- The Russian Ruble (RUB) in Shymkent: 6.61 - 6.68 KZT
- The Euro (EUR) in Nur-Sultan: 621 - 622 KZT
- The Turkish Lira (TRY): 13.27 KZT
- The United Arab Emirates Dirham (AED): 146.86 KZT
- The Euro (EUR): 629.46 KZT
- The Chinese Yuan (CNY): 75.14 KZT
- The Kyrgyz Som (KGS): 6.17 KZT
It's important to note that exchange office rates in Kazakhstan’s major cities typically track these trends but incorporate margins and may reflect greater volatility or liquidity constraints compared to official or interbank rates.
The National Bank of the Republic of Kazakhstan has announced official exchange rates for Friday, August 8, ensuring a transparent and consistent exchange rate system for the country.
In the face of the tenge's significant depreciation in 2025, the National Bank of Kazakhstan used finance strategies like interventions in foreign exchange markets to stabilize the currency. Urban exchange offices in major cities like Almaty, Nur-Sultan (Astana), and Shymkent often adjust their buy/sell rates based on the tenge's increased volatility and low liquidity, impacting financial transactions.
