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Kazakh National Bank’s gold and foreign exchange assets increase

Business Materials 17 April 2014 16:53 (UTC +04:00)

Astana, Kazakhstan, April 17

By Daniyar Mukhtarov - Trend:

The volume of gold and foreign exchange assets of the Kazakh National Bank amounted to $26.5 billion in the first quarter of 2014, chairman of the Kazakh National Bank Kairat Kelimbetov said at a briefing in Astana on April 16.

"The amount of the bank's gold and foreign exchange assets increased by 7.5 percent to $26.5 billion in January-March 2014," he said.

"The Kazakh National Fund's assets in foreign currency increased by 21.8 percent to $70.5 billion in 2013, while they increased by 3.2 percent to $72.8 billion in January-March 2014," he added.

The Kazakh National Fund is a collection of financial assets accumulated in the account of the country's government in the National Bank, as well as other assets, excluding intangible assets.

It was established to ensure the stable socio-economic development of the country, to accumulate the funds for future generations, to reduce the economy dependence from adverse external factors, as well as to reduce the dependence of the republican and local budgets on world prices.

translated by NH

edited by CN

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