Kazakhstan's foreign exchange reserves down by over 9%
Baku, Azerbaijan, June 28
By Nargiz Sadikhova - Trend:
The value of foreign exchange reserves of National Bank of Kazakhstan in May 2019 amounted to $28 billion according to the preliminary data, which is 9.4 percent less compared to the beginning of the year, Trend reports with reference to the bank’s data.
Compared to April 2019 this sum actually increased by 3.5 percent.
Taking into consideration $58.6 billion of National Fund’s reserves the value of foreign exchange reserves of the country amounted to $86.7 billion in May 2019.
Furthermore, the monetary base in May increased by 16.2 percent and amounted to 6.62 trillion tenge (-0.5 percent since the beginning of the year). At the same time the monetary base in narrow meaning, i.e. excluding the time deposits of second tier banks in National Bank, the base expanded by 8.6 percent and amounted to 5.52 trillion tenge (-7.9 percent).
In turn, money supply expanded by two percent in May according to preliminary data and amounted to 19.74 trillion tenge (-5.2 percent since the beginning of the year). The value of cash in circulation increased by 1.7 percent and equaled to 2.25 trillion tenge (-0.6 percent).
(1USD = 379.82 KZT on June 28)
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