Exchange rate soars, placing the Dollar at 542 tenge
Article Title: USD/KZT Exchange Rate Forecast for September 2025 in Kazakhstan
The exchange rate between the US dollar and the Kazakhstani tenge is a topic of interest in Kazakhstan, with recent trading levels hovering around 540 tenge per dollar. According to various analysts, the forecast for the USD/KZT exchange rate in September 2025 projects the rate to be approximately 541.7 to 563.4 tenge per dollar.
The Association of Financiers of Kazakhstan expects the USD/KZT to reach about 541.7 tenge per dollar by early September, while another forecast puts the average at around 563.39 tenge for the entire month of September.
As of mid-August 2025, the Kazakhstan Stock Exchange reported a rate of approximately 540 tenge per dollar on August 18. Exchange offices in Astana and Almaty were trading near that level, with buy rates around 535-539 tenge and sell rates around 541-542 tenge.
The National Bank of Kazakhstan is taking measures to maintain currency stability and fight inflation. While there is no explicit mention of recent direct interventions in the search results, analysts note that the National Bank is expected to maintain a tight monetary policy. The base interest rate has been raised to about 15.25% to keep inflation and currency stability under control.
First Deputy Prime Minister Roman Sklyar shared his forecast for the dollar rate in Kazakhstan on July 31, predicting a retreat from its current high. However, the timeline for this retreat and the specific steps the National Bank will take to achieve it are not detailed.
It is important to note that these forecasts reflect concerns about inflationary risks, foreign trade deficits, and commodity market instability influencing the tenge’s weakening trend. The official rate of the National Bank of Kazakhstan on August 11 was 539.49 tenge per dollar, and on July 30, the dollar rate in Kazakhstan's exchange offices exceeded 550 tenge. On an unspecified date, the National Bank started conducting currency interventions.
Prime Minister Olzhas Bektenov stated that the tenge rate is determined by market principles and there are no factors causing sharp fluctuations. Aliya Moldabekova, Deputy Chairwoman of the National Bank, explained the current situation with the tenge exchange rate but did not specify why the regulator is not intervening in the tenge rate.
The article does not mention any other analysts' predictions for the tenge rate or the dollar rate in September, nor does it provide information about a timeline for the National Bank's intervention. On August 1, the National Bank reported using 125.6 million dollars to support the tenge, but no new information about the dollar rate for September was provided in the current paragraph.
In Astana, the current average buy rate for dollars is 540.52 tenge, and the sell rate is 547.52 tenge. The article does not provide information about a timeline for Sklyar's prediction or any other analysts' predictions for the dollar rate in September.
The USD/KZT exchange rate in the finance industry is a subject of analysis, and predictions suggest that it may reach approximately 541.7 tenge per dollar by early September 2025, as projected by the Association of Financiers of Kazakhstan. However, another forecast indicates an average rate of around 563.39 tenge per dollar for the entire month of September.
In the context of the given text, these projections are part of the broader business discussions regarding the USD/KZT exchange rate in Kazakhstan.
