According to experts at the Applied Economics Research Centre (AERC), the exchange rate of the tenge is expected to decline due to anticipated oil prices.
“Considering the lower assumptions regarding oil prices for 2025, AERC forecasts the USD/KZT pair to be at 489.5 tenge per dollar. Thus, the exchange rate forecast for 2025 has been adjusted towards greater depreciation of the national currency compared to the October review (previously – 480.8 tenge per dollar),” the macroeconomic review of the center states.