For the month of Kazakhstan bought $ 351 mln – trends of the Forex market

Kazakhstan again began to actively buy the currency. According to the national Bank, in June 2020, the volume of net sales (sales minus purchase) exchange of five major currencies (dollar, Euro, ruble, pound sterling and Renminbi) amounted to 193,4 bn.

It is the best result for the last three months, but it is far below levels of a year ago. So, in June, 2019 in the background of the presidential election and rumors about the imminent devaluation of the Kazakhstani people spent on the purchase of foreign currency on 492,6 billion tenge more than rescued from the sale.

The surge and decline in the quarantine April-may 2020 has led to the fact that net sales for the year fell by almost half. In the first half of 2019, the total volume exceeded KZT 1.4 trillion, a year later 927,6 billion.

Demand for the dollar comes back to normal

The General trend is traditionally set by the dollar – if the demand for the American currency grows, as a rule, grow, and total net sales of currencies. In June, the citizens of Kazakhstan have spent on the purchase of 141,5 billion tenge more than was rescued from the sale (may – 109.1 billion).

Converted at an average monthly rate, this means that in the hands of the population for the month accumulated 351,7 million dollars. Since the beginning of year the above figure was only once – in March, which was marked by the weakening of the tenge (433,1 million).

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However, the situation varies greatly depending on the region. The main growth was achieved in two:

  • net sales in Almaty increased by 20.3 billion tenge (60 billion),
  • in Almaty region – 16.6 billion (up 24.6 billion).

Interestingly, this level of demand in the Almaty region was never, at least since the beginning of 2018. For example, the average monthly figure in 2019 amounted to 1.9 billion tenge. The demand in the region exceeds level of last year.

Kyzylorda oblast is another region where the demand for the American currency is at an unusually high level. In June, the net sales here amounted to 6,4 billion tenge. More than 2.5 years was only once, and recently. In may, the residents of the region spent on the purchase of $ 7.9 billion tenge more than rescued from the sale. The average level of 2019 – less than 2.5 billion tenge per month.

In addition:

  • demand for the dollar in Nur-Sultan fell. Compared with may, the volume of net sales fell by more than a third from 10.4 to 3.3 billion;
  • in addition to the capital and the Kyzylorda region, a decline in six regions (Akmola, Atyrau, Kostanai, Pavlodar and North Kazakhstan region). That is, in the Northern part of Kazakhstan the demand for the American currency declined.

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The demand for the ruble falls in the North…

Of all the currencies of the most interesting trends are observed in the operations with ruble. The first trend: the ruble is now not bought it where it was usually high demand. So,

  • in Kostanai region for the third consecutive month residents are more likely to sell rubles, than buying. The June reading of minus is 123.4 million tenge. The average monthly rate of net sales by the end of 2019 – 6.6 billion tenge;
  • in West Kazakhstan and Pavlodar regions, the demand for the ruble can not even begin to recover from its April fall. In the first net sales for the three months amounted to 919,9 million tenge (the average monthly level of 2019 4.3 billion), the second is 2.6 billion (5.9 billion);
  • the exchange of Shymkent in June bought the Russian currency to 189 million tenge more than was sold. This is the first time since gaining the status of national importance ( ie summer 2018).

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… but growing in the South

The second trend is the sharp increase in demand for the ruble where the popularity of it is usually not used. Namely, in the South of the country.

  • In Kyzylorda oblast the population has traditionally been disposed of rubles, but after quarantine the trend has changed dramatically. In June, the volume of net sales amounted to 3.7 billion tenge – a unique achievement for the region.

By the way, more level in only two areas.

  • One of them Zhambyl region, the demand for the ruble is growing for the sixth consecutive month. Indicator Jun – 5.3 billion tenge. And it’s incredibly much for the 2019 year was 4.8 billion tenge.
  • The record is marked in the Turkestan region is 2.8 billion tenge. This is the maximum since the advent of this region.

In addition, the demand in Atyrau (3,1 billion tenge – the highest since November 2018) and Mangistau (3.2 billion over 2.5 years was more than just one day) regions. Overall by the end of June for the purchase of rubles citizens spent 38.6 billion tenge more than received from their sale. And in six regions of the Russian currency has bypassed on this indicator the dollar.

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What is more interesting in the market?

  • The net sales of the Euro is gradually growing. The June level is 12.7 billion tenge. It is much less than the level of the previous year (41.2 billion) or even the average of the beginning of the year (the average in January-February – 21.5 billion). But still almost the same as in March (3.7 billion), April (2 billion) and may (7.5 billion) combined.
  • Half of all net sales euros (6.2 billion tenge), Almaty provides. In five regions the demand compared to may fell. However, in Turkestan and Almaty regions, by contrast, was at maximum level at least 2.5 years.
  • For the first time since 2020 Kazakhstan has bought yuan. Net sales in June amounted to 48.7 million tenge. For the previous five months the population of “threw” the Chinese currency almost 1.2 billion tenge. 92% of all net sales has provided Almaty.

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