June 5, 2023

In March 2023, the volume of money transfers from Russia to Kazakhstan increased by 2.7 times compared to the same period last year. The total amount of transfers reached 12.2 billion tenge ($27.5 million), according to the statistics of the National Bank of the Republic.

According to the report, the volume of money transfers from the Russian Federation exceeded 40% of the total amount of such transactions, making the country the leader in terms of the volume of funds received from abroad, transmits Friday, May 5, TASS.

“In March 2023, 114,000 transactions worth 29.9 billion tenge ($67.5 million) were sent to Kazakhstan from abroad through the money transfer system. Compared to February 2023, the number and volume of money transfers received increased by 24 .4% and 15.6%, respectively,” the regulator said.

In addition, Kazakhstan receives the largest number of transfers from Uzbekistan, South Korea, the United States and Turkey.

In March last year, 4.5 billion tenge ($10.1 million) was transferred from Russia to Kazakhstan. The total amount of funds in the first quarter of 2023 amounted to 33.9 billion tenge ($76.5 million), which is approximately 300% more than in 2022.

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