ASTANA, Kazakhstan, February 4. The National Bank of Kazakhstan (NBK) purchased old-style US dollars worth $48 million from second-tier banks, Trend reports, citing the National Bank of Kazakhstan.
“In 2024, the National Bank of Kazakhstan decided to buy unclaimed old-style US dollar cash from second-tier banks (STBs) for subsequent export abroad. The commission fee was determined based on market quotes from foreign counterparts. At the end of last year, the NBK exported unclaimed old-style US dollars collected from STBs, amounting to $48 million,” the National Bank reported.
As a result of this initiative, the NBK reached a direct agreement with the US Federal Reserve System to accept old-style US dollar cash, reducing potential costs related to transportation, insurance, and other expenses. Consequently, the commission fee for these operations has been reduced to 0.3 percent.
Additionally, Kazakhstan’s National Bank will continue these operations as a temporary measure upon the relevant requests from STBs to address the accumulation of unclaimed old-style US dollar cash.