International reserves of Kazakhstan's National Bank increase
BAKU, Azerbaijan, May 14
By Nargiz Sadikhova – Trend:
The gross international reserves of Kazakhstan’s National Bank amounted to $30.5 billion in Apr. 2020, bank’s preliminary data said, Trend reports with reference to the National Bank.
According to the data, the value of country’s international reserves increased by 2.4 percent compared to last month and by 5.3 percent more than as of the end of 2019.
“International reserves overall, i.e. including the foreign currency denominated assets of the National Fund ($58.5 billion) equaled $89.04 billion as at the end of Apr. 2020,” the report said.
Net foreign exchange reserves of Kazakhstan also increased by 2.4 percent in a month (increase by 5.4 percent compared the December 2019), and equaled $30.02 billion.
In turn, the assets in freely convertible currency have decreased by 4.1 percent compared to Mar. 2020 and by 3.8 percent compared to December 2019, having amounted to $9.6 billion.
The country’s assets in gold amounted to $20.8 billion in Apr. 2020, which is 5.8 percent more than in Mar. 2020 and 10.2 percent more than as of the end of 2019.
Earlier this month Deputy Governor of the National Bank Aliya Moldabekova said that reserves of Kazakhstan’s National Bank increased in Apr. 2020 by $720 million having amounted to $30.5 billion, according to preliminary data.
Moldabekova said that the reserves increase was mainly due to the gold price increase from $1,605 to $1,717 per ounce as a result of which the reserves themselves increased by $1.1 billion to $20.8 billion.
“Within the framework of the concept for the formation and use of the National Fund for its further diversification in April, the National Bank sold refined gold worth $250 million to the Fund,” Moldabekova said.
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