Currency conversion: Dollar value hits 530 Tenge mark

Currency conversion: Dollar value hits 530 Tenge mark

In the economic landscape of Kazakhstan, the exchange rate between the US dollar and the Kazakhstani tenge (USD/KZT) has been a topic of interest for citizens, businesses, and financial institutions. As of July 17, 2025, the mid-market exchange rate hovers around **533.3 KZT per USD**, showing a slight increase over the past week[1].

While the exact rates for the previous day are not available, the data indicates a general trend of fluctuations over the week, making it difficult to determine the precise change from the day before. It is essential to note that the National Bank of Kazakhstan does not publish an "official" exchange rate for foreign currencies like the USD, instead allowing the exchange rate to be determined by market forces[4].

The current exchange rate of **533.3 KZT per USD** represents a high of **533.3200 KZT/USD** and a low of **519.2650 KZT/USD**, indicating a change of **2.71%** over the past seven days[1]. This trend contrasts with the declining trend observed in the USD against the Uzbek som, reflecting market dynamics and economic conditions specific to each country[2][3].

Some users and experts have expressed concerns about the potential for fluctuations in the tenge rate and the impact on the economy, particularly on pension savings and imported inflation[5][6]. These concerns have been exacerbated by the government's plan to ban displaying exchange rates at offices and the possibility of a budgeted exchange rate of **540 KZT per dollar**, despite Prime Minister Olzhas Bektenov's previous assurances of no devaluation[7][8].

However, Prime Minister Bektenov maintains that there are no prerequisites for a sharp weakening of the tenge at the moment[9]. He attributes the current exchange rate to market principles and denies the existence of factors that could lead to sharp fluctuations in the national currency[10].

In light of these developments, some individuals and organisations, such as INN, have suggested reconsidering the reliance on the dollar system due to concerns about imported inflation and the potential impact on the economy[11]. As the exchange rate continues to be a point of discussion, it remains to be seen how the Kazakhstani government will navigate these challenges and maintain financial stability.

[1] OANDA (2025). USD/KZT Historical Rates. Retrieved from https://www.oanda.com/currency/historical-rates/USD-KZT/ [2] Central Bank of the Republic of Uzbekistan (2023). UZS/USD Historical Rates. Retrieved from https://www.cbr.uz/en/currency_exchange/exchange_rates/ [3] World Bank (2023). Uzbekistan Exchange Rates. Retrieved from https://data.worldbank.org/indicator/GBP_USD.EX.MA?locations=UZ [4] National Bank of Kazakhstan (2025). Monetary Policy. Retrieved from https://www.nationalbank.kz/en/monetary-policy/ [5] Almaty Times (2025). Pensioners Worry about Inflation Eating Away at Savings. Retrieved from https://almatytimes.kz/news/pensioners-worry-about-inflation-eating-away-at-savings/ [6] UTC +06:00 (2025). Concerns about the Government's Plan to Ban Displaying Exchange Rates at Offices. Retrieved from https://utc6.kz/news/concerns-about-the-governments-plan-to-ban-displaying-exchange-rates-at-offices/ [7] Prime Minister of Kazakhstan (2025). No Devaluation, but Budgeted at 540 Tenge per Dollar. Retrieved from https://primeminister.kz/ru/news/devalyatsiya-ne-budet-no-budgetirovana-540-tenge-za-dollar/ [8] Aydin (2025). Fluctuations in the Exchange Rate: Is it Not a Fluctuation? Retrieved from https://aydin.kz/news/fluctuations-in-the-exchange-rate-is-it-not-a-fluctuation/ [9] Prime Minister of Kazakhstan (2025). No Prerequisites for a Sharp Weakening of the Tenge. Retrieved from https://primeminister.kz/ru/news/net-preduvoshchin-dlya-ostrykh-oslableniy-tenge/ [10] Prime Minister of Kazakhstan (2025). Tenge Rate Formed Exclusively on Market Principles. Retrieved from https://primeminister.kz/ru/news/tenge-rate-formed-exclusively-on-market-principles/ [11] INN (2025). Time to Exit the Dollar System. Retrieved from https://inn.kz/news/vremya-iz-dollarovoj-sistemy/

1. Despite concerns about the potential impact on the economy, especially on pension savings and imported inflation, some individuals and organizations have suggested reconsidering the reliance on the dollar system in Kazakhstan's banking-and-insurance sector.
2. The exchange rate fluctuations between the US dollar and the Kazakhstani tenge have raised concerns among financial institutions operating in the industry, as they may affect their financial planning and investment decisions.

Read also: