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Kazakhstan residents are buying fewer rubles but increasing their purchases of yuan.

Kazakhstan citizens have reduced their purchases of Russian rubles and have begun showing increased interest in the yuan, according to Bizmedia.kz citing the National Bank.
Kazakhstan residents are buying fewer rubles but increasing their purchases of yuan.

In 2024, exchange points sold foreign currency worth 2.1 trillion tenge, marking a 5% increase compared to the previous year.

The dollar continues to be the most sought-after currency. There was particularly high demand in January, November, and December. The American currency was most frequently purchased in Almaty, Astana, Shymkent, and the Mangistau region. The euro also enjoyed popularity, especially in April and November.

The situation with the ruble was different. In 2024, Kazakhstani citizens were getting rid of cash rubles en masse, and in July, exchange offices recorded a negative sales balance of minus 9.5 billion tenge. However, by October, the demand for the Russian currency had risen again.

At the same time, interest in the Chinese yuan noticeably increased. It was primarily purchased in February and July, but in April, negative sales were recorded, as Kazakhstani citizens sold more yuan than they bought.