The week ended in mixed directions. According to the Central Bank on September 18, 2026, the dollar and ruble appreciated against the som, while the euro and pound sterling declined in value.

How official exchange rates changed

  • US dollar — 11,833.37 som (+35.91);
  • euro — 13,577.61 som (−30.76);
  • British pound — 15,821.22 som (−53.44);
  • Russian ruble — 139.79 som (+0.02);
  • Kazakhstani tenge — 26.52 som (+0.06).

What this picture shows

Divergence within the basket is crucial for understanding causes. If it were about weakening the national currency, all positions would appreciate at once. Here the dollar is rising while the euro and pound are declining — meaning the movement is determined by the relationship between global currencies themselves.

Essentially, the week was marked by dollar strengthening in the global market: it gained approximately 0.3% against the som, while European currencies lost roughly the same.

Two events that determined the dynamics

Change in calculation methodology. Since September 15, the official rate is formed taking into account not only exchange transactions but also interbank off-exchange market operations. Expanding the calculation base should bring official values closer to actual transaction conditions.

Rate decision. On September 16, the Central Bank maintained the key rate at 14%, noting persisting pro-inflationary risks. A high real rate — with inflation at 6.2% — remains a supporting factor for som instruments.

Where to exchange more profitably

Dollar

Banks sell currency at 11,830 som — this quote is offered by Agrobank, Aloqabank, Anor bank and Business Development Bank.

You can sell dollars at 11,810 som at Uzmilyobank. Following are Hayot Bank (11,800), Asia Alliance Bank (11,795) and Tenge Bank (11,790).

The difference between the best quotes is approximately 20 som, or 0.17%. This is one of the tightest spreads on the market.

Euro

You can buy European currency most cheaply for 13,630 som at Uzmilyobank, and sell for 13,420 som there.

The spread reaches 210 som. When exchanging 100 euros, the difference between the best and worst offers on the market exceeds 137,000 som.

Ruble

Here the gap is maximum: banks sell rubles at 136–140 som, and buy at 95–112.

The spread between the best quotes is 24 som — approximately 18% of the currency's value. For comparison, this figure is a hundred times lower for the dollar.

Pound and tenge

British pounds are sold at 16,000–16,200 som, bought at 15,520–15,600. When exchanging 100 pounds, branch choice changes the result by 300,000 som.

For tenge, buying quotes hover around 27 som, selling — 25, but the spread between banks reaches 15 som per unit.

Practical conclusion

The week's pattern remains consistent: the more liquid the currency, the less a client loses in exchange. For dollars, spreads are measured in tenths of a percent, for rubles — nearly a fifth of the value.

Hence a simple rule: for dollar transactions, the time spent finding a better rate only pays off for large amounts. When exchanging rubles, pounds or tenge, the difference between branches can change the outcome by several percent.

Before visiting, check the current exchange rates: banks revise quotes throughout the day, and yesterday's data may no longer be relevant.

This material is for informational purposes only and is not an investment recommendation.