BAKU, Azerbaijan, Mar.12
By Nargiz Sadikhova – Trend:
The gross international reserves of Kazakhstan’s National Bank amounted to $29.8 billion in February 2020, bank’s preliminary data said, Trend reports with reference to the bank.
According to the data, the value of country’s international reserves increased by 1.8 percent compared to last month and 3.22 percent more than of the end of 2019.
“International reserves overall, i.e. including the foreign currency denominated assets of the National Fund ($59.9 billion) equaled $89.9 billion as at the end of January 2020,” the report said.
Net foreign exchange reserves of Kazakhstan also increased by 1.9 percent in a month (increase by 3.2 percent compared the December 2019), and equaled $29.4 billion.
In turn, the assets in freely convertible currency (CFC) have decreased by 1.1 percent compared to January 2020 and by 4.8 percent compared to December 2019, having amounted to $9.5 billion.
Country’s assets in gold amounted to $20.3 billion in February 2020, which is 3.4 percent more than in January 2020 and 7.6 percent more than as of the end of 2019.
Earlier this month Deputy Governor of the National Bank Aliya Moldabekova said that Kazakhstan’s National Bank will continue acquisition of gold in 2020.
Moldabekova said that 57 tons of gold were purchased by the bank in 2019 and another 60 tons are to be purchased.
“This practice is paying off now, given the uncertainty and fears on the global financial markets, gold assets display properties of a safe asset, ensuring the safety of international reserves,” Moldabekova said.
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