BAKU, Azerbaijan, January 30. Gross international reserves of the National Bank of Kazakhstan increased by 3.1 percent, reaching $35.1 billion in 2022, Trend reports, citing the National Bank.
The increase in reserves was facilitated by an increase in the foreign currency share of assets.
Despite the increase in gold prices by 3 percent to $1,812 per ounce, there was a reduction in the gold portfolio due to its sale on foreign markets in order to diversify gold and foreign currency assets.
The international reserves of the country as a whole, including the assets of the National Fund in foreign currency ($55.7 billion), amounted to $90.8 billion at the end of 2022.
The monetary base in December increased by 1.3 percent to 11.87 trillion Kazakh tenge ($25.82 billion). This constitutes an expansion of 8.4 percent by the end of 2022. The increase took place against the backdrop of an increase in transferable bank deposits.
The National Bank is the central bank of the Republic of Kazakhstan. The objective of the institution is to ensure price stability in Kazakhstan, in addition to regulating fiscal and monetary policy.