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Kazakhstan reports drastic annual surge in international reserves

Finance Materials 18 January 2021 14:38
Kazakhstan reports drastic annual surge in international reserves

BAKU, Azerbaijan, Jan. 18

By Nargiz Sadikhova – Trend:

The gross international reserves of Kazakhstan’s National Bank amounted to $35.6 billion in Dec. 2020, bank’s preliminary data said, Trend reports with reference to the National Bank.

According to the data, the value of the country’s international reserves increased by 9.7 percent compared to last month and by 23.1 percent more than as of the end of 2019.

“International reserves overall, i.e. including the foreign currency denominated assets of the National Fund ($58.6 billion) equaled $94.3 billion as at the end of Dec. 2020,” the report said.

Net foreign exchange reserves of Kazakhstan also increased by 9.8 percent in a month (increase by 23.5 percent compared to December 2019), and equaled $35.1 billion.

In turn, the assets in freely convertible currency have increased by 15.1 percent compared to Nov. 2020 and increased by 19.9 percent compared to Dec. 2019, which has amounted to $12.09 billion.

The country’s assets in gold amounted to $23.5 billion in Dec. 2020, which is 7.1 percent more than in Nov. 2020 and 24.9 percent more than as of the end of 2019.

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