Kazakhstani tenge (KZT): oil dependence and the exchange rate
The Kazakhstani tenge was introduced in 1993. One unit is divided into 100 tiyins. The National Bank of Kazakhstan pursues an inflation targeting policy with a floating exchange rate. The main pressure factor on the tenge is world oil prices: Kazakhstan is among the major hydrocarbon exporters, and falling oil prices have historically weakened the national currency. The KZT rate also depends on ruble dynamics through trade ties within the EAEU.
AZN to KZT: two oil-producing states with different exchange rate policies
The AZN/KZT pair is calculated as a cross rate through the dollar: the manat is stable against USD, the tenge fluctuates according to market conditions. This means the pair is largely influenced by tenge dynamics, but the final rate is also affected by the AZN regime, liquidity, and the terms of the specific transaction. When oil becomes cheaper and the tenge weakens, one manat gives more tenge. For businesses operating in both countries, this creates currency risk on the Kazakhstani currency side.
Exchanging manats for tenge through ATM24: fast and without extra steps
ATM24 works with the AZN - KZT direction and accepts applications via WhatsApp or Telegram. To exchange, write to the manager, specify the amount in manats or tenge, and the preferred method of receiving funds. The manager will confirm before payment: the feasibility of the operation, the applicable payment method, the rate, its validity period, and the commission. KYC requirements, source of funds verification, and limits are determined by applicable law and the transaction amount; these are verified by the manager before payment.
