Demand for Russian rubles grows in Kazakhstan
Astana, Kazakhstan, Jan.16
By Daniyar Mukhtarov - Trend:
The sales of the Russian ruble in exchange offices were twice higher than the sales of the euro in Kazakhstan in November 2014, the analytical service Ranking.kz reported.
"Exchange offices sold the Russian currency in the amount of 64.4 billion KZT ($1 - 183, 55 KZT), euro - in the amount of only 32.5 billion. In terms of sales, the ruble has exceeded the euro since September 2014," analysts said.
They said that in areas close to the Russian Federation, the share of ruble in total currency sales (dollar / euro / ruble in KZT) ranged from 25 to 43 percent. For comparison, in November 2013 the maximum share of the ruble currency sales did not exceed 29 percent (North Kazakhstan region), and the ruble decreased by 8.1 percent in relation to euro in terms of the volume of sales.
Among the regions, the highest share of the ruble in November 2014 was observed in West Kazakhstan (43.2 percent), North Kazakhstan (38.4 percent) and Almaty (33.8 percent) regions.
It is noteworthy that the highest growth rate of the ruble sales is recorded in South Kazakhstan region, where traditionally the Russian currency was not in demand (3-fold increase to 2.2 billion in KZT).
Aktobe region holds the second place (an increase of 2 times to 4.6 billion KZT).
Residents of megacities bought Russian currency in total of 17.7 billion KZT.