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Astana, Kazakhstan • 12 January, 2023 | 17:14

International Money Transfers from Kazakhstan Topped Nearly ₸1 Trillion

Money sent to Uzbekistan and Turkey amounted to over half the volume

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In eleven months of 2022, Kazakhstan citizens sent 962.7 billion tenge from Kazakhstan through international wire transfers, which is 4.5% more compared to the same period of 2021, QazMonitor reports citing

The number of transactions decreased by 2.6%, to 2.3 million during this period, which increased the average transfer amount from 391.5 thousand to 419.9 thousand tenge.

Transfers to Uzbekistan and Turkey alone accounted for more than the half of the volume of international money transfers in January-November 2022: 276 and 250.5 billion tenge respectively. Meanwhile, the volume of transfers to Uzbekistan decreased by 0.9% compared to the previous year, and to Turkey - on the contrary, increased by 32.4%.

Money transfers from Kazakhstan to Russia and Kyrgyzstan amounted to 175.6 billion and 71.6 billion tenge accordingly.

A serious 2.5-time growth in volume was observed for transfers to Georgia (up to 64.8 billion tenge).

The most popular international money transfer system was Russian Zolotaya Korona – 76.7% of the total volume at 738.5 bln tenge. Contact was the second in volume at 128.9 billion tenge, and Western Union (59.9 billion tenge) ranked third on the list.

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