Kazakhstan increases share of gold in foreign exchange reserves
Baku, Azerbaijan, Sept. 18
As of end-August this year, the share of gold in Kazakhstan’s foreign exchange reserves amounted to 42 percent, compared to 37 percent last year, the Kazakh media reported Sept. 18.
During the reporting period, the share of foreign currency assets decreased to 58 percent from last year’s 63 percent.
It is also reported that Kazakhstan’s international reserves as of end-August this year amounted to $30.8 billion, which is 5.7 percent less than a year earlier - $32.6 billion.
Such decline was observed for the first time in five years.
On average, the growth rate of reserves for the period (as of end August) 2013-2018 is about one percent per year, and the growth in monetary terms over the past five years has amounted to $1.2 billion. The share of net international reserves accounts for 98.4 percent or $30.3 billion.
In the structure of reserves, assets in freely convertible currency account for the major share - 58.3 percent, or $18 billion. A year earlier they accounted for $20.7 billion. Gold reserves account for 41.7 percent, which is equivalent to $12.8 billion.
Foreign exchange reserves considering the assets of the Kazakhstan National Fund at the end of August this year amounted to $87.3 billion, which is 3.6 percent less than a year earlier - $90.6 billion.