Living and Trading in KZT: FX Guide to Kazakhstan
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Kazakhstan with the Kazakhstani tenge
What's in this Kazakhstan currency guide?
What currency is used in Kazakhstan?
The official currency of Kazakhstan (country code: KZ) is the Kazakhstani tenge, with symbol лв and currency code KZT.
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Frequently Asked Questions
What currency should I use in Kazakhstan?
The domestic currency in Kazakhstan is the Kazakhstani tenge.
What is the Kazakhstani tenge currency code and symbol?
The three letter currency code for the Kazakhstani tenge is KZT — symbol is лв.
What doe the Kazakhstani tenge look like?
Here is an example Kazakhstani tenge banknote:
Which countries use the Kazakhstani tenge?
It is the domestic currency in Kazakhstan.
Is the Kazakhstani tenge a closed currency?
No, the Kazakhstani tenge is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and KZT?
Here are some popular conversion amounts for USD to KZT (US dollar to Kazakhstani tenge)*.
*Converted at the current USDKZT interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Things to know about the Kazakhstani tenge
Here are some things you might want to know about the Kazakhstani Tenge (KZT):
- It is the official currency of Kazakhstan, a country located in Central Asia.
- It is abbreviated as KZT and is made up of 100 tiyin.
- The National Bank of Kazakhstan is responsible for issuing the currency and managing the country's monetary policy.
- The Kazakhstani Tenge is not pegged to any other currency, and its value is determined by market forces.
- The current exchange rate of the Kazakhstani Tenge can be found on various financial news and online currency exchange sites.
- The Kazakhstani Tenge comes in denominations of 1000, 2000, 5000, 10,000, 20,000, 50,000, and 100,000 tenge. The coins come in denominations of 1, 3, 5, 10, 20, and 50 tiyin.
- The physical currency features images of notable figures and landmarks from Kazakhstan's history and culture, as well as Kazakh and Russian inscriptions.
- The Kazakhstani Tenge is not widely accepted outside of Kazakhstan, so it is important to exchange it for a more widely accepted
Travel money for Kazakhstan
Using Wise for Kazakhstani tenge travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Kazakhstani tenge otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Kazakhstani tenge cash before departure, you can save money by ordering online. You generally get better rates and can pick up the KZT cash locally or even on travel day at the airport.
Kazakhstan is a landlocked country in Central Asia, with a population of around 18 million. The country is bordered by Russia to the north, China to the east, and Kyrgyzstan, Uzbekistan and Turkmenistan to the south. The capital city is Astana, and the official language is Russian.
Kazakhstan is a relatively young country, having only gained independence from the Soviet Union in 1991. Despite this, it is one of the wealthiest countries in Central Asia, due to its large reserves of oil and gas. The country is also home to a number of interesting attractions, such as the Curious Doors of Almaty and the Ishim River.
Expats in Kazakhstan will find that the cost of living is relatively affordable, and the people are generally friendly and welcoming. The country has a diverse range of cultures and religions, and there is a lot to explore.
The Russian invasion of Ukraine caused a large influx of Russian seeking to avoid being drafted into the Russian army.
Best things to do and see in Kazakhstan
There are many things to see and do in Kazakhstan, including visiting its capital, Almaty, hiking in the Tian Shan mountains, visiting the steppe and desert landscapes, and exploring the country's many archaeological sites. Other popular activities include horseback riding, fishing, and birdwatching.
Top Travel tips for Kazakhstan
When traveling to Kazakhstan, it is important to be aware of the locals' customs and beliefs. Here are a few tips to help you enjoy your trip:
1. Don't photograph people without their permission.
2. Be respectful of religious sites and buildings.
3. Be aware of your surroundings and keep an eye on your belongings.
4. Be cautious when engaging in business deals.
5. Learn some basic phrases in Kazakh before you travel.
6. Tap water is not safe to drink in Kazakhstan.
What currency should I use in Kazakhstan?
The official currency of Kazakhstan is the Kazakhstani Tenge (KZT). ATM’s are very easy to find in the cities but make sure to bring cash money when you visit remote villages and regions. There are also plenty of exchange offices, especially in the big cities, in case you want to exchange some dollars or euros.
USD/KZT Market Data
The below interactive chart displays the USD/KZT change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to Kazakhstan - Best Rates
To get a good (and fair) exchange rate when sending money to Kazakhstan you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Kazakhstan
When sending money to Kazakhstan it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Kazakhstani tenge amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted KZT amount will be transfered to the recipient account you specify in Kazakhstan.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Kazakhstani tenge deposited into the recipient bank account and less margins and fees kept by the banks!
Managing money while living and working in Kazakhstan
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
Understand Kazakhstani tenge currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the KZT exchange rate and consider using a money transfer specialist or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Kazakhstani tenge bank account: A local KZT bank account can make it easier for you to manage your finances and pay bills while you are in Kazakhstan. It may also be more convenient to use a local KZT bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Kazakhstan. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Kazakhstan. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Kazakhstan, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Kazakhstan.
There are many things to see and do in Kazakhstan, including visiting its capital, Almaty, hiking in the Tian Shan mountains, visiting the steppe and desert landscapes, and exploring the country's many archaeological sites. Other popular activities include horseback riding, fishing, and birdwatching.
Top Travel tips for Kazakhstan
When traveling to Kazakhstan, it is important to be aware of the locals' customs and beliefs. Here are a few tips to help you enjoy your trip:
1. Don't photograph people without their permission.
2. Be respectful of religious sites and buildings.
3. Be aware of your surroundings and keep an eye on your belongings.
4. Be cautious when engaging in business deals.
5. Learn some basic phrases in Kazakh before you travel.
What's the best way to pay in Kazakhstan?
In general, the best way to pay in Kazakhstan is in cash. However, there are some exceptions, such as when paying for large purchases or when using a credit card.
How is the cost of living in Kazakhstan?
The cost of living in Kazakhstan is very reasonable. food, transportation, and housing are all relatively inexpensive when compared to other countries.
How is the expat life in Kazakhstan?
The expat life in Kazakhstan is generally positive. There are a number of international schools and Kazakhstan is a relatively safe country. Cost of living can be high, but there are good job prospects for expats.
Any laws in Kazakhstan that foreigners should be aware of?
There are a few things that foreigners should be aware of when travelling to Kazakhstan. The first is that it is illegal to photograph military installations or personnel. The second is that it is important to respect the local culture and customs, particularly when it comes to dress and behaviour. Kazakhstan is a Muslim country, so it is important to dress modestly and avoid foul language. Finally, it is important to remember that Kazakhstan is a landlocked country, so visitors will need to get a visa in advance if they wish to travel there.
What is doing business like in Kazakhstan?
It is difficult to say in general terms what doing business is like in Kazakhstan as it can vary greatly depending on the specific sector and business. However, in general, Kazakhstan is a country with a lot of potential for businesses. The economy is growing at a steady pace, and there are opportunities for businesses to access to a large and growing market. The government is also supportive of businesses, and there are many incentives and programs available to help businesses succeed.
The Russian invasion of Ukraine caused a large influx of Russian seeking to avoid being drafted into the Russian army. The influence of these new Russian migrants on the economy and politics of Kazakhstan, as well as the general future of the country are yet to be seen.