The Basics: Tenge (KZT) and Som (KGS)
Kazakhstan uses the Kazakhstani Tenge (KZT) and Kyrgyzstan uses the Kyrgyzstani Som (KGS). Both currencies are floating — meaning their value relative to other currencies like the US Dollar (USD), Euro (EUR), or Russian Ruble (RUB) changes daily based on market forces, government policy, and global economic conditions.
Where Exchange Rates Come From
Exchange rates are influenced by several factors:
- Central bank policy: The National Bank of Kazakhstan and the National Bank of the Kyrgyz Republic both set reference rates that commercial banks and exchange offices use as a baseline.
- Supply and demand: If more people want to buy USD with KZT, the tenge weakens against the dollar.
- Commodity prices: Kazakhstan's economy is closely tied to oil exports. When global oil prices fall, the tenge often weakens.
- Political and economic stability: Regional events and global financial shifts affect both currencies.
Where to Exchange Currency: Comparing Your Options
| Option | Pros | Cons |
|---|---|---|
| Bank branches | Safe, reliable, regulated | May have less competitive rates, queues |
| Licensed exchange offices | Often better rates, convenient | Quality varies — always check the license |
| ATMs (international cards) | 24/7 access, fair mid-market rate | Foreign transaction fees may apply |
| Airport kiosks | Convenient on arrival | Usually the worst rates — avoid for large amounts |
| Online/mobile transfers | Often best rates for remittances | Requires registration, processing time |
How to Check the Real Exchange Rate
Before exchanging money, always check the current mid-market rate — the "real" rate before any fees or markups — using one of these free tools:
- Google: Search "USD to KZT" or "USD to KGS" for a real-time snapshot.
- XE.com: A reliable currency conversion website with historical charts.
- National Bank websites: The official rate published by the National Bank of Kazakhstan (nationalbank.kz) and the National Bank of the Kyrgyz Republic (nbkr.kg).
Common Traps to Avoid
- Hidden fees: Some exchange offices advertise an attractive rate but charge a commission. Always ask: "What will I receive in total?"
- Unlicensed exchangers: Exchanging with informal street dealers is illegal and risky — you may receive counterfeit notes or be scammed.
- Dynamic currency conversion: When paying by card abroad, always choose to pay in the local currency, not your home currency, to avoid poor conversion rates.
Sending Money Across Borders
For migrants sending remittances home, comparing transfer services is essential. Services such as Western Union, MoneyGram, Wise (TransferWise), and regional services like Unistream or Contact are widely used. Always compare the total amount received — after all fees and exchange rate markups — rather than just the advertised fee.
Live Currency Converter
You can use the widget below to check current exchange rates between major currencies and the Tenge or Som:
Final Tips
Exchange rates fluctuate daily. For large transactions, consider monitoring the rate for a few days before exchanging. Small, regular exchanges (such as monthly remittances) tend to average out over time, making timing less critical for routine transfers.