Latest Exchange Rates in Kazakhstan as of June 9, 2023
Currency experiencing depreciation in foreign exchange market
Here's a glimpse into the current average exchange rates in Kazakhstan as of June 9:
US Dollar (USD) to Kazakhstan Tenge (KZT)
As of today, the official buy rate for USD is between 509-509.5 KZT, while the sell rate is 510.5-511 KZT. Keep in mind that these rates may fluctuate over time [1].
Euro (EUR) to Kazakhstan Tenge (KZT)
The buy rate for EUR is currently around 580-582 KZT, with a sell rate of 584-585 KZT.
Russian Ruble (RUB) to Kazakhstan Tenge (KZT)
The buy rate for RUB is around 6.28-6.35 KZT, and the sell rate is approximately 6.41-6.43 KZT.
As for the global oil market, the price of August Brent oil futures is currently at $66.7 per barrel on the ICE exchange [2].
Looking Ahead: 2025 Exchange Trends
While the focus here is on current exchange rates, it's worth noting some trends for the future. According to available data, the average USD to KZT exchange rate in 2025 has fluctuated, with early June rates hovering around the 507 to 512 KZT per USD range [4]. Predictions for July indicate a rate of approximately 507 KZT per USD [3]. Historically, the average KZT to USD exchange rate has been around 0.002 USD per KZT for 2025 [1].
The EUR to KZT exchange rate has varied, with the lowest rate in February at 517.15 KZT per EUR, and the highest at 599.96 KZT per EUR [5]. The average for 2025 is expected to be around 552.88 KZT per EUR [5].
Unfortunately, specific RUB to KZT exchange rate trends for 2025 are not provided in the search results. However, it is worth noting that the RUB to KZT exchange rate is influenced by economic conditions in both countries, including inflation rates, trade balances, and geopolitical factors.
Commentary on Comfortable Ruble Rate for Kazakhstanis
A comfortable exchange rate for Kazakhstanis would be one that supports economic stability and promotes favorable trade conditions. Historically, a stable RUB to KZT rate has been beneficial for trade between Kazakhstan and Russia, as it helps maintain consistent cross-border transactions. A rate that allows for balanced imports and exports without causing significant inflationary pressures would be considered comfortable. However, without specific data on the RUB to KZT exchange rate, it's challenging to pinpoint an exact comfortable rate, as it would depend on various economic indicators and trade policies.
In general, economic stability and trade policies play crucial roles in determining how comfortable an exchange rate is for any currency. For Kazakhstanis, a stable and favorable exchange rate would be one that supports both domestic economic growth and international trade, particularly with neighboring countries like Russia.
[1] Source 1[2] Source 2[3] Source 3[4] Source 4[5] Source 5
In the global industry, the finance sector will be closely watching the predicted fluctuations in exchange rates, with the average USD to KZT rate in 2025 projected to range between 507 to 512 KZT per USD [4]. Meanwhile, energy markets may play a significant role in the Economic Cooperation Organization (ECO) region, given the anticipated average EUR to KZT exchange rate of around 552.88 KZT per EUR for 2025 [5]. The energy sector, particularly the prices of oil, have the potential to influence the exchange rates within this economic bloc.
