Kazakhstan's international reserves nearing $30B once again

Business Materials 9 November 2019 10:56 (UTC +04:00)
Kazakhstan's international reserves nearing $30B once again

BAKU, Azerbaijan, Nov.9

By Nargiz Sadikhova – Trend:

The gross international reserves of the National Bank of Kazakhstan amounted to $29.501 billion in October 2019, according to the preliminary data, Trend reports with reference to the bank.

According to the data, the value of country’s international reserves increased by 2.4 percent compared to last month and decreased by 4.4 percent compared to the beginning of the year.

“International reserves overall, i.e. including the foreign currency denominated assets of the National Fund ($59.196 billion) equaled $88.657 billion as at the end of October 2019,” the report said.

Net foreign exchange reserves of Kazakhstan also increased by 2.4 percent since September, having decreased by 4.6 percent since December 2018, and equaled $29.018 billion.

In turn, the assets in freely convertible currency (CFC) have increased by 4.4 percent since September (decrease of 32.1 percent since December 2018) and amounted to $11.225 billion. The assets in gold stood at $18.276 billion, which is 1.2 percent more than in September and 27 percent more than in December 2018.

Kazakhstan's gross international reserves amounted to $30.58 billion in January 2019. Starting from the next month, February 2019, the value of the country's international reserves began to decline steadily, with a time to time increase in comparison to last month, but still it did not exceed $30 billion.


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