Kazakhstan’s National Bank Reports on Currency Sales

The National Bank continues to sell foreign currency to support transfers to the state budget, Orda.kz reports.

According to Kazakhstan's National Bank, the tenge appreciated slightly in May by 0.3%. At the end of the month, the U.S. dollar stood at 510.82 tenge, and overall trading volume declined.

In May, $988 million was sold from the National Fund. These funds were directed to the republican budget as transfers. Sales from the fund accounted for 22% of total foreign currency transactions during the month. The National Bank plans to reduce sales from the fund in June, estimating between $700 and $800 million.

For the needs of the Unified Accumulative Pension Fund (ENPF), $250 million was purchased in May. A similar volume is expected to be bought in June.

It was previously reported that around 1.5 trillion tenge had already been spent from the National Fund in the first three months of 2025. With IMF experts forecasting a growing budget deficit in Kazakhstan, this figure may increase further in the near future.

Original Author: Nikita Drobny