InfoHub Logo

The Kazakh tenge has experienced a notable strengthening against the US dollar, causing a significant drop in exchange rates at currency exchange points across the nation. This development has sparked public interest regarding its causes and potential economic impacts.

Dollar Exchange Rates in Major Cities

As of 12:20 PM on April 2nd, the average selling rate for the US dollar in Astana's exchange offices stood at 475 tenge, with a buying rate of 468 tenge. In Almaty, the selling price for the American currency was 472.44 tenge, while the average buying rate was approximately 470 tenge. Observers noted a lack of intense demand from buyers for dollars in Almaty's exchange offices.

Previous Day's Trends

Just a day prior, on April 1st, the Kazakhstan Stock Exchange (KASE) reported that the average weighted dollar exchange rate had fallen to 475.09 tenge by the end of the day's trading. This represented a decrease of 3.06 tenge compared to the previous day. On April 1st, dollars were being sold for an average of 480 tenge and bought for 473 tenge in Astana. In Almaty, the average selling rate for dollars was 476.47 tenge, with a buying rate of 474.22 tenge.

National Bank's Official Rate

The National Bank's official exchange rate for April 2nd was set at 475.09 tenge.

Factors Influencing the Tenge's Strength

Previously, Timur Suleimenov, Chairman of the Agency for Regulation and Development of the Financial Market, explained that the strengthening of the tenge was primarily influenced by rising prices for key export commodities, particularly oil. With over 50% of export revenues coming from oil, this increased the supply of foreign currency in the market, contributing to the dollar's depreciation.

Suleimenov also highlighted that the National Bank does not provide investment advice but has demonstrated the stability of the Kazakh tenge. By the end of the previous year, the tenge was recognized as one of the world's most attractive currencies due to its high returns, which aids in attracting investment.

The National Bank indicated that the current upward trend in the tenge's value, observed since the beginning of 2026, reflects a strengthening of the national currency. This trend saw a significant acceleration in February. According to the National Bank, the tenge's appreciation is linked to objective market factors rather than being a short-term reaction to isolated external events.

The National Bank reiterated its commitment to maintaining a flexible exchange rate policy, which helps prevent imbalances and preserve gold and foreign exchange reserves.