U.S. Dollar Remains Intact with Another Uptick on May 2nd
Rewritten Article:
The closing exchange rate for the dollar stood at 516.16 tenge, marking a 3.68 tenge increase.
Russian ruble and Chinese yuan trading were halted due to holidays in both countries.
In the markets, dollars are being bought or sold at rates between 517.1 to 519.5 tenge, euros at 585-589 tenge, and rubles at 6.09-6.21 tenge.
Oil prices skyrocketed on May 2, trading on the London ICE and NYMEX exchanges, with a barrel of Brent crude oil reaching 62.47 dollars and Light crude oil at 59.58 dollars per barrel.
In the morning, the National Bank set the dollar rate at 512.34 tenge, the euro at 582.07 tenge, and the ruble at 6.31 tenge.
Click here for exchange office rates during the first half of May 2.
For more accurate insights into the expected average exchange rates for key currencies like the US dollar, euro, and ruble in Kazakhstani exchange offices during the second half of May 2025, it's useful to consider recent trends and forecasts.
Key Currency Exchange Rates as of Early May 2025
- USD to KZT: Initial forecasts suggested the USD could be trading between 459 and 514 KZT, with a predicted average of approximately 463 to 518 KZT throughout the month[5]. The average rate for the year is expected to be around 512.8 KZT per dollar[3].
- EUR to KZT: As of early May, 1 EUR translated to approximately 0.001708 KZT, equivalent to roughly 585.58 KZT per euro[2].
- RUB to KZT: The exchange rate between RUB and KZT can be somewhat unpredictable, but it often follows regional economic trends. Specific data for early May is not included here, but the ruble's value tends to align with broader economic movements.
Considering these forecasts, similar rates might be seen in the second half of May, although fluctuations are possible due to factors like oil price changes and geopolitical events.
Estimate for Second Half of May
- USD to KZT: Expected to range between 443 and 514 KZT, with an average around 453 to 503 KZT.
- EUR to KZT: Anticipated to be around 570 to 610 KZT per euro, with room for potential fluctuation.
- RUB to KZT: This rate is more volatile and challenging to precisely predict without specific data, but it generally follows regional economic trends.
These estimates are based on current predictions and may differ in actual exchange offices due to local conditions.
I expect exchange rates for key currencies in Kazakhstani exchange offices during the second half of May 2025. While the average rate for a dollar (USD) is forecasted to be around 453 to 503 Kazakhstani tenge (KZT), the euro (EUR) may be trading around 570 to 610 KZT per euro. The exchange rate for the ruble (RUB) is more volatile and challenging to precisely predict, yet it usually aligns with regional economic trends. To verify the latest exchange rates, please visit this link for a current and accurate href to finance rates during the second half of May 2025. Keep in mind that fluctuations in oil prices and geopolitical events may cause changes in the actual exchange rates compared to these estimates.
