Kazakh Tenge Strengthens as Dollar Rate Falls on KASE Exchange

The Kazakh tenge showed renewed strength on Wednesday, with the US dollar's exchange rate declining during trading on the Kazakhstan Stock Exchange (KASE). The weighted average dollar rate settled at 473.31 tenge, marking a decrease of 5.65 tenge from the previous session.

This movement represents a reversal from the sharp increase observed just two days earlier. On Monday, April 8th, the dollar's weighted average rate had jumped to 475.31 tenge, rising by 12.32 tenge amid market reactions to geopolitical developments.

The National Bank of Kazakhstan (NBK) has set its official exchange rate for April 10th at 479.82 tenge per US dollar.

In local currency exchange offices, the rates varied by city. In Almaty, the average purchase price for dollars was 471.73 tenge, while the selling price averaged 474.19 tenge. In Astana, dollars could be bought for an average of 470.00 tenge and sold for approximately 477.00 tenge.

The National Bank has previously commented on the broader trend, stating that the tenge's dynamics reflect its ongoing appreciation observed since the beginning of 2026, with this trend notably accelerating in February. The central bank attributes this strengthening to objective market factors rather than short-term reactions to isolated external events.

Monetary authorities have reaffirmed their commitment to maintaining a flexible exchange rate policy. According to the NBK, this approach helps avoid economic imbalances and supports the preservation of gold and foreign exchange reserves.

This currency movement follows the National Bank's latest monetary policy decision from March 6th, where it kept its base rate unchanged at 18% per annum with a corridor of +/- one percentage point.