zakonkz.com

Demand for rubles in Kazakhstan has hit its highest level since mid-2023.

In October 2024, currency exchange offices in Kazakhstan sold Russian currency totaling a net volume of 8.8 billion tenge, according to Bizmedia.kz.
Demand for rubles in Kazakhstan has hit its highest level since mid-2023.

The Telegram channel of the First Credit Bureau clarified that this figure was reached despite the fact that last month, Kazakhstani citizens attempted to sell Russian currency, while exchange offices purchased more of it – with net volumes of 239 million and 6.1 billion respectively.

In August of last year, net sales through exchange points reached 12.9 billion tenge, when public interest in rubles increased. Notably, this time, the West Kazakhstan region (ZKO) had the highest net demand, amounting to 1.5 billion tenge. This is a unique occurrence: since 2020, such a case has only happened in July 2021.

Net sales of dollars through exchange offices amounted to 170.1 billion tenge, slightly more than in September, but overall, it is 12% lower than the level from a year ago.

The net sales volume in euros reached nearly 18 billion tenge, six times higher than in September, and just 11 percent more than the result from October 2023.