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National Bank of Kazakhstan reveals incoming money transaction volume from Russia

Kazakhstan Materials 30 January 2023 10:57 (UTC +04:00)
National Bank of Kazakhstan reveals incoming money transaction volume from Russia
Emin Sevdimaliyev
Emin Sevdimaliyev
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BAKU, Azerbaijan, January 30. International money transfers from Russia to Kazakhstan amounted to 357 billion Kazakh tenge (around $775.4 million) in 2022, Trend reports, citing the National Bank of Kazakhstan.

This constitutes nearly a sixfold increase in a span of a year.

Meanwhile, the volume of transfers from Kazakhstan to Russia reached 195.98 billion Kazakh tenge ($425.49 million).

It is important to note that the figures include only transactions carried out via the international payment systems, and they do not include money transfers between the bank accounts of the two nations.

Kazakhstan welcomed an influx of people moving from Russia in 2022. Additionally, Kazakhstan became a new home for more than 50 international firms, which relocated from Russia due to geopolitical uncertainty. This led to an increase in incoming money transfers to Kazakhstan. In comparison, the volume of completed incoming transactions amounted to around $0.1 billion in 2021.

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