US Dollar Exchange Rate Falls in Kazakhstan's Exchange Offices

The US dollar exchange rate has declined sharply in Kazakhstan's currency exchange offices. As of April 2, the average selling rate for the dollar in Astana is 475 tenge, while the buying rate is 468 tenge. In Almaty, the American currency is being sold for an average of 472.44 tenge and bought for 470 tenge.

The official exchange rate set by the National Bank for April 2 stands at 475.09 tenge per dollar. This follows a decrease on April 1, when the weighted average dollar rate on the Kazakhstan Stock Exchange (KASE) settled at 475.09 tenge, down by 3.06 tenge from previous trading.

Just a day earlier, on April 1, exchange offices in Astana were selling dollars for an average of 480 tenge and buying them for 473 tenge. In Almaty's exchange points, the average selling rate was 476.47 tenge, with a purchase rate of 474.22 tenge.

National Bank Chairman Timur Suleimenov has previously explained that the national currency is strengthening due to objective market factors. The primary export—oil, which accounts for over half of export revenue—is rising in price, increasing foreign currency supply in the market and consequently lowering the dollar's value.

Suleimenov emphasized that the Kazakhstani tenge has proven its stability and resilience. Last year, it showed high returns and is considered one of the world's most interesting currencies from a risk-return perspective, attracting investments.

The National Bank stated that current exchange rate dynamics reflect a continued strengthening of the national currency observed since early this year, with this trend noticeably intensifying in February. The central bank attributed this to fundamental market factors rather than short-term reactions to isolated external events.

The National Bank added that it will continue to adhere to a flexible exchange rate policy to help avoid imbalances and preserve gold and foreign exchange reserves.