Kazakhs boost euro purchases 23-fold in June, dollar buying nearly doubles

July 27, 2026 at 01:41 PM1 min

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Kazakhstanis sharply increased purchases of euros and dollars at exchange offices in June, with euro buying surging more than 23-fold year-on-year to 25.7 billion tenge. Dollar purchases jumped 94% from May to 126.5 billion tenge, while the public continued to sell Russian rubles, though at a slower pace.

Euro Purchases

Kazakh citizens bought 25.7 billion tenge worth of euros at exchange offices in June, a 23-fold increase from 1.1 billion tenge in June 2025, according to National Bank data. Month-on-month, purchases more than doubled from 11.6 billion tenge in May. The surge marks the highest monthly euro buying on record, reflecting a sharp shift toward the European currency.

Dollar Demand

Dollar purchases in June reached 126.5 billion tenge, a 93.7% increase from May’s 65.3 billion tenge. Compared to June 2025, demand rose 15.6% from 109.4 billion tenge. Despite the monthly spike, total dollar purchases in the first half of 2026 were 686.6 billion tenge, down 2.9% from the same period last year, indicating a volatile demand pattern.

Ruble and Other Currencies

Exchange offices bought Russian rubles from the population for 17.5 billion tenge in June, down 41.7% from May and 56.8% from a year earlier. Ruble sales have been declining steadily since December 2024. Meanwhile, purchases of British pounds tripled month-on-month to 308.3 million tenge but fell 38.1% year-on-year. Chinese yuan buying slipped 11.5% from May to 76.9 million tenge, contrasting with net sales a year ago.