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Kazakhstan sees decrease in foreign exchange reserves value

Finance Materials 15 September 2022 18:26
Baku, Azerbaijan Trend News Agency Nargiz Sadikhova
Kazakhstan sees decrease in foreign exchange reserves value

The gross international reserves of Kazakhstan’s National Bank amounted to $32.7 billion in August 2022, the bank’s preliminary data said, Trend reports with reference to the National Bank.

According to the data, the value of the country’s international reserves decreased by 0.4 percent compared to last month and by 4.78 percent compared to December 2021.

“International reserves overall, i.e. including the foreign currency denominated assets of the National Fund ($53.8 billion) equaled $86.5 billion as at the end of August 2022,” the report said.

In turn, the assets in freely convertible currency have increased by 2.67 percent compared to August 2022 and by 11.7 percent compared to December 2021 amounting to $12.09 billion.

The country’s assets in gold amounted to $20.6 billion in August 2022, which is 2.12 percent less than in August 2022 and decreased by 12.37 percent compared to December 2021.

Kazakhstan’s net foreign exchange reserves equaled $30.8 billion during the reporting period, which is 0.36 percent less than last month and 4.66 percent less than in December 2021.

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