Exchange Rates on July 27: Dollar, Euro, and Ruble valuations in Kazakhstan's currency system
In Kazakhstan, the official exchange rates set by the National Bank of Kazakhstan and the rates available in retail currency exchange outlets showed a notable difference in late July 2025.
During this period, the official exchange rate for a dollar in Almaty was approximately 544.87 Kazakhstani Tenge (KZT), while the rates in open exchange markets fluctuated near 518-519 KZT per USD. This discrepancy indicates a gap between the official rates provided by the central bank and the rates available in retail currency exchange outlets.
Similarly, the exchange rates for a Euro and a Ruble also showed a difference. The official buy price for a Euro was 639.2 KZT, while market rates in cities like Shymkent were significantly lower, with the worst historical exchange rate reaching as low as 0.0018 USD per KZT.
This discrepancy was also observed in other cities. For instance, in Astana, the buy price for a dollar was 542 KZT, while in Shymkent, it was 545 KZT. The buy price for a Euro in Astana was 634 KZT, compared to 638 KZT in Shymkent. The buy price for a Ruble in Astana was 6.75 KZT, while in Shymkent, it was 6.76 KZT.
This gap reflects currency depreciation in practice compared to the official pegged exchange rate. A news article published by kurs.kz on July 27, 2025, discussed the cost of foreign currency in Kazakhstan's exchange offices.
Despite these discrepancies, the head of the National Bank of Kazakhstan stated that interventions on the tenge rate won't help and will only harm. The official buy price for a Euro, set by the National Bank of Kazakhstan for the weekend, was 639.02 KZT, while the sell prices in Shymkent for a dollar, Euro, and Ruble were higher than this official rate.
In conclusion, the exchange rates in Kazakhstan's cities varied significantly from the official rates set by the National Bank of Kazakhstan in July 2025. This discrepancy highlights the importance of monitoring exchange rates in the informal market to fully understand the country's currency situation.
Summary Table:
| City | Official Rate (1 USD to KZT) | Market/Exchange Office Rate (1 USD to KZT) | |-------------|-----------------------------|------------------------------------------| | Almaty | 544.87 | Below 544.87, closer to 518-520 | | Astana | N/A | N/A | | Shymkent | 545 | Below 545, closer to 518-520 |
Note: Due to the lack of detailed city-by-city breakdown in the sources, the official rates for Astana are not provided.
The discrepancies between the official exchange rates set by the National Bank of Kazakhstan and the rates available in retail currency exchange outlets were observed not only for the dollar but also for the Euro and the Ruble. This situation in Kazakhstan's cities highlights the need for businesses, finance, and the industry to monitor exchange rates in the informal market to comprehend the country's true currency situation fully.
Considering the varying exchange rates in Kazakhstan's cities compared to the official rates set by the National Bank of Kazakhstan in July 2025, it is crucial for businesses, finance, and the industry to have a comprehensive understanding of the exchange rates in the informal market.
