Currencies exhibiting over 40 tenge increase in value during April.
Here's a new take on the topic:
Currency Swings in Kazakhstan: A Rollercoaster Ride
📷 Credit: our website
In the dynamic world of currencies, April 2025 proved to be a eventful month in Kazakhstan, as exchange rates experienced a wild ride. The dollar, for instance, saw an uptick, setting the official exchange rate at 514.6 tenge. This marked a 3.3% increase compared to March's rate of 497.9 tenge.
📷 Credit: our website
The euro took a more pronounced leap, jumping almost 7.5% and hitting 576.79 tenge per unit of currency. Meanwhile, the Russian ruble gained 6.7%, standing firm at 6.18 tenge. The Chinese yuan didn't exhibit as much volatility, rising 2.6% to 70.5 tenge.
Apart from the euro, other foreign currencies also saw an increase in April. The Kuwaiti dinar led the pack, surging by 3.7% (60.7 tenge) over the month. Next in line was the Swiss franc, which became 9.4% pricier (53.06 tenge). The pound sterling of the United Kingdom and the Canadian dollar also gained ground, up 5.3% (34.3 tenge) and 5.9% (20.6 tenge) respectively.
Contrary to the trend observed in previous months, none of the currencies weakened against the tenge in April. In fact, from January to March, the Turkish lira showed the most notable decrease with a drop of 8.7%, reaching 13.4 tenge in March. The UAE dirham, Azerbaijani manat, Indian rupee, and Kyrgyz som also saw declines in excess of 5%.
📷 Credit: our website
The rates of several European countries, including the Swedish krona, Danish and Czech krona, and Moldovan lei, showed an increase greater than 7% in April. Interestingly, the Turkish lira and South African rand demonstrates surprising resistance to change.
Our website had earlier reported on the increase in the dollar rate at the Kazakhstan Stock Exchange (KASE) by the end of trading on May 5.
Fun Fact: The Kuwaiti dinar, which emerged as the leader in April, has the highest value among the global currencies with one Kuwaiti dinar equivalent to around 2.58 US dollars [Ref: Enrichment Data].
- I found it intriguing that the Azerbaijani manat, which had shown declines in excess of 5% from January to March, didn't follow the same trend in April, instead remaining stable.
- In April, the percentage increase in the rate of the Swiss franc was significantly higher than that of the other foreign currencies, making it 9.4% pricier in Kazakhstan.
- Earlier in the year, our website reported on the increase in the dollar rate at the Kazakhstan Stock Exchange (KASE) by the end of trading on May 5. However, other currencies like the Azerbaijani manat showed a different trend in April.
