BAKU, Azerbaijan, Jan. 14
Deputy Chairperson of the National Bank of Kazakhstan Aliya Moldabekova spoke about the impact of interventions on the volume of gold and foreign exchange assets of the National Bank in December 2021, Trend reports with reference to the National Bank.
“Gold and foreign exchange reserves amounted to $34.4 billion in late December 2021, having decreased by $1.1 billion since the beginning of the month,” Moldabekova said. “The gold portfolio, the volume of which exceeded 400 tons for the first time in 2021, reached 402.4 tons or $23.5 billion.”
According to the National Bank, a slight increase in gold prices in December by 1.3 percent to $1,820 per ounce was caused by concern as a result of accelerating inflation rate in the US, however, the rhetoric of the US Federal Reserve and the rapid reduction in the asset purchase program limited a further increase in the value of the precious metal.
“As a result, the gold and foreign exchange assets decreased through the foreign exchange part of assets, which decreased by $1.1 billion due to the payment of a public debt, operations on the accounts of the government and correspondent accounts of the National Bank’s clients, as well as our foreign exchange interventions,” Moldabekova added.
Earlier, the National Bank spoke about the situation in the oil market and the main factors that influenced price dynamics in 2021.