ASTANA, Kazakhstan, August 14. The total amount of deposits by the population of Kazakhstan in second-tier banks amounted to 21.7 trillion tenge (about $45.2 billion) until July 1, 2024, Trend reports, citing the Institute of Economic Research.
At the end of December 2023, this number reached a whopping 20.1 trillion tenge (approximately $41.8 billion), making it a real fortune. Thus, during the period under review, the total volume of deposits went up by 7.58 percent.
The bulk of deposits are time deposits in national currency. In January 2024, the amount of time deposits in tenge was 11.1 trillion tenge (about $23.1 billion), while at the end of June 2024, this amount increased to 11.9 trillion tenge (about $24.8 billion).
At the same time, in January 2024, the amount of time deposits in foreign currency amounted to 4.44 trillion tenge (about $9.25 billion), while at the end of June 2024, this amount increased to 4.46 trillion tenge (about $9.3 billion).
According to the National Bank of Kazakhstan, Kazakhstan's tenge exchange rate weakened by 0.5 percent to 474.15 tenge per $1 in July 2024.
Sales of foreign currency to ensure transfers from the National Fund to channel funds to the Republican budget amounted to $506 million in July 2024.
The National Fund's share of sales amounted to 14 percent of the total trading volume, or no more than $23 million per day.