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Tengrinews.kz - The National Bank of Kazakhstan will buy old-design US dollars from local banks.
The National Bank’s decision for 2024 involves purchasing unclaimed old-design cash dollars from second-tier banks (STBs) for subsequent export abroad.
"The commission fee was set based on market quotes from foreign counterparties. At the end of last year, the National Bank exported unclaimed old-design cash dollars accepted from STBs, amounting to $48 million," the statement from the National Bank reads.
As a result of this initiative, the National Bank reached an agreement directly with the US Federal Reserve to accept old-design cash dollars, reducing potential costs related to transportation, insurance, and other expenses.
"Consequently, the commission fee for these operations has been reduced to 0.3 percent. The National Bank will continue these operations as a temporary measure upon relevant requests from STBs to address the accumulation of unclaimed old-design cash dollars," the National Bank concluded.
Earlier, readers contacted Tengrinews.kz, sharing that when withdrawing large sums in dollars from deposits at certain banks, the staff apologized for issuing only old-design “white” dollars. It was revealed that in 2024, many Kazakhstanis faced difficulties exchanging pre-2009 design dollar bills, commonly known as “white” dollars, during trips abroad. Many countries now prefer newer “blue” dollar bills.
Read also: National Bank to sell up to $650 million from National Fund
