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Kazakhstanis have begun a significant rush to purchase physical U.S. dollars، a trend that has reached unprecedented levels in the past decade.

Why the Sudden Demand for Dollars؟

Experts attribute this surge in demand for cash dollars to the strengthening of the Kazakhstani tenge. In February، the official exchange rate of the dollar dropped to 489.17 tenge، marking its lowest point since mid-March 2025. By the end of the month، the tenge had appreciated by 0.7% against the dollar، closing at 497.56 tenge. This marks the fifth consecutive month of strengthening for the national currency.

How Are Savings Being Protected؟

A study conducted by DataHub revealed that in February، 48% of respondents identified the dollar as their preferred method for holding cash savings. This figure represents a substantial increase of 16.2 percentage points over the past year، reaching its highest point since January 2016.

When asked about their savings strategies، 25.4% of respondents indicated they save money. Among these، 35.6% prefer to keep cash on hand، while 69.5% opt for bank deposits. Other investment avenues include real estate (21.7%) and securities (11%).

Consequently، a portion of the population views purchasing dollars as a primary method to preserve the value of their accumulated savings.

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