Kazakhstan announced it will sell KZT 750 bln (USD 1.4 bln) worth of FX in Q1, to mirror tenge sales completed to buy gold last quarter. On Tuesday the Russian and Kazakh currencies performed strongly against the USD, resulting from onshore tax-related flows, and increasing expectations of conflict negotiation between Russia and Ukraine. The tenge was also supported by the news of FX sales. Kazakhstan also announced it will extend its deadline for compensating excess oil production under the OPEC+ agreement, to the end of June 2026.