Kazakhstan tightens currency exchange regulations

©️ Turar Kazangapov

Tengrinews.kz – The National Bank of Kazakhstan has approved amendments to foreign exchange regulations, including new rules for currency exchange, citing the bank’s press service.

According to the statement, the board of the National Bank has introduced changes to several regulatory acts concerning foreign currency operations.

Key updates include shortened reporting deadlines for banks regarding foreign exchange transactions and an expanded list of operations subject to financial monitoring to prevent violations of currency legislation.

Additionally, the exchange rate spread for cash transactions at currency exchange offices has been reduced:

The buy-sell margin for the U.S. dollar is now capped at 7 tenge (previously 15 tenge).
The buy-sell margin for the euro is now 10 tenge (previously 20 tenge).