BAKU, Azerbaijan, Feb.8
Trend:
The currency assets of Kazakhstan made up nearly $57.7 billion as of late January 2021, down by $1 billion compared to the beginning of the year, Trend reports referring to the country’s National Bank.
According to the bank, the main reason for the reduction in assets was allocation of transfers to the budget, the volume of which amounted to 381 billion tenge (equivalent to $900 million). As noted, for these purposes, $720 million were sold on the foreign exchange market, which is equivalent to about 300 billion tenge, and the rest of the transfers were made at the expense of balances on the tenge account, which were formed mainly due to revenues in the National Fund for November through December 2020.
The fund's investment income in January 2021 was negative and amounted to -$390 million or -0.6 percent, nearly $150 million of which fell on portfolio of stocks and $140 million - on the bond portfolio of developed countries.
The main reasons for this were 1 percent decrease in the index of global shares of MSCI World and negative return on the index of developed countries’ bonds (-0.43 percent) in the reporting month.
In early February the share market recovered and in the first 5 days investment income made up $440 million, rebounding since the previous month.
