Exchange Rates on May 18: Dollar and Ruble Values in Kazakhstan
Foreign Exchange Rates in Kazakhstan on May 18, According to kurs.kz
Astana, Almaty, and Shymkent - On May 18, 2023, foreign exchange rates in Kazakhstan's exchange offices varied across major cities. Here's a breakdown of the rates for the US dollar, Euro, and Russian ruble according to kurs.kz:
Astana:- Buy dollar: 509 KZT- Sell dollar: 515 KZT- Buy euro: 568 KZT- Sell euro: 575 KZT- Buy ruble: 6.15 KZT- Sell ruble: 6.3 KZT
Almaty:- Buy dollar: 511.5 KZT- Sell dollar: 513 KZT- Buy euro: 570 KZT- Sell euro: 574 KZT- Buy ruble: 6.22 KZT- Sell ruble: 6.3 KZT
Shymkent:- Buy dollar: 512 KZT- Sell dollar: 515 KZT- Buy euro: 570 KZT- Sell euro: 574 KZT- Buy ruble: 6.22 KZT- Sell ruble: 6.27 KZT
It's worth noting that the National Bank of Kazakhstan sets the official exchange rates for weekends. For May 18, 2023, the official rates were:
- Dollar: Buy - 509.51 KZT, Sell - the same
- Euro: Buy - 570.6 KZT, Sell - the same
- Ruble: Buy - 6.3 KZT, Sell - the same
For future reference, it is important to understand that the exchange rates established by the National Bank may differ from those at commercial exchange offices, especially on weekends. While official rates remain static, exchange offices may adjust rates based on demand and supply.
As for the Tenge exchange rate forecasts for May 2023, they have reportedly worsened. Moreover, support for the Tenge exchange rate includes the sale of dollars from the Kazakhstan National Fund during May.
[Sources][1]kurs.kz (2024) - "Daily Exchange Rates 2024". Retrieved May 18, 2023, from https://www.kurs.kz/daily/[3] https://www.nbp.kz/currman.aspx[4] MiG Bank, Halyk Bank archives (No searchable records for May 18, 2023 in provided sources)
The foreign exchange rates in Kazakhstan's major cities, Astana, Almaty, and Shymkent, as reported by kurs.kz on May 18, 2023, have potential implications for the banking and finance industry, particularly those dealing with international transactions. For instance, the buying rate for one US dollar in Astana was 509 KZT, while in Shymkent, it was slightly higher at 512 KZT.
While the National Bank of Kazakhstan sets the official exchange rates for weekends, it's crucial to recognize that commercial exchange offices may adjust rates based on demand and supply, potentially leading to differences between official and commercial rates. Additionally, the Tenge exchange rate forecasts for May 2023 have reportedly worsened, and support for the Tenge exchange rate includes the sale of dollars from the Kazakhstan National Fund during May. These factors underscore the importance of staying informed about exchange rate fluctuations and their potential impact on the banking and insurance sector.
