Currency strengthens against Kazakhstani tenge on the 16th of July
In the financial landscape of mid-2025, the exchange rates in Kazakhstan are exhibiting a mix of stability, depreciation, and slight strengthening against major currencies.
The Kazakhstani tenge (KZT) against the US dollar is holding steady, with the dollar trading around 526.5 KZT per USD on July 17. This represents a slight increase from 524.24 KZT on July 15, according to data from the National Bank. The tenge's stability against the US dollar is attributed to strong regional economic ties and monetary policy interventions.
However, against the euro, the tenge shows a depreciation trend in 2025, with the KZT/EUR rate down about 11% year-to-date. The euro is currently trading around 611.64 KZT on July 17, a slight decrease from 612.94 KZT on July 15. This weakening trend against the euro is influenced by Eurozone economic conditions and global risks.
The Russian ruble (RUB) remains relatively stable versus the tenge, with a slight increase in RUB/KZT rate from 6.68 on July 15 to 6.72 on July 17, indicating a minor strengthening of the ruble against the tenge. This stability is primarily due to close economic ties with Russia.
Regarding the September Brent crude oil futures price, the current search results do not provide direct price data. However, as Kazakhstan is a significant oil producer, Brent crude prices have a strong influence on the tenge exchange rate. Factors affecting Brent crude prices include global supply and demand dynamics, geopolitical stability in oil-producing regions, OPEC+ production decisions, and US energy policies, among others. Given the period is mid-2025, Brent prices are likely responsive to ongoing global post-pandemic recovery, energy transition trends, and geopolitical developments.
Over the past 24 hours, the dollar rate has increased by 0.63 tenge, but the Euro and Ruble rates are not specified in the provided text. The National Bank head anticipates no significant changes in the dollar exchange rate. The buy rate for the Ruble is 6.6 tenge and the sell rate is 6.73 tenge, while the buy rate for the dollar is 526 tenge and the sell rate is 528 tenge. The Prime Minister has assured no sharp tenge depreciation is expected.
In exchange offices across Kazakhstan, the average exchange rate for the dollar is not specified in the text. The buy rate for the Euro is 610 tenge and the sell rate is 616 tenge, but no information about the change in Euro or Ruble rates over the past 24 hours is provided. The price of September Brent crude oil futures on the ICE exchange is $68.5 per barrel.
In summary, fluctuations in Kazakhstan's exchange rates reflect a mix of regional economic policies, global currency market trends, and the broader impact of oil prices, which remain a vital but indirectly tracked factor.
The tenge's depreciation trend against the euro in 2025 suggests a need for careful management in Kazakhstan's finance sector, especially considering the euro's influence on the KZT/EUR rate.
The stability of the Russian ruble versus the tenge indicates a potential area for further financial analysis, as economic ties with Russia might offer opportunities for strategic interventions in the finance market.
