The share of Kazakhstan's national currency in cross-border payments with SCO countries has reached 70%. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
This indicator reflects the strengthening of Kazakhstan's economic cooperation with the member states of the Shanghai Cooperation Organization. Reaching a 70% share of the national currency means the growing role of the tenge in cross-border settlements.
The SCO brings together Kazakhstan, China, Russia, Kyrgyzstan, Tajikistan, Uzbekistan, India and Pakistan. Trade and economic ties with the organization's countries are of strategic importance for Kazakhstan.
The growth in the national currency's share increases the efficiency of bilateral payments and reduces currency risks. This trend is assessed as an important step in Kazakhstan's foreign economic policy.