Abstract. The article examines the impact of changes in the exchange rate of the Kazakh-stani currency, tenge, on the income and living standards of the population of Kazakhstan during the period 2014–2016. The correlation between the rates of devaluation and inflation is estimated, the dynamics of incomes in the specified period is investigated, as well as the change in the structure of expenditures as an standard of living indicator. There is a more intense character of the devaluation of the Kazakhstan currency in comparison with other “commodity” currencies and the controversy of the policy on excessive reduction of its rate under conditions of deteriorating quality of life.