14 Jan 2025 12:28

Kazakhstan's international reserves dip 0.5% in December, rise 9% in 2024

ALMATY. Jan 14 (Interfax) - Kazakhstan's gross international reserves, which include the National Bank's gold and currency reserves along with the National Fund's assets, totaled $104.62 billion at the end of December 2024, according to preliminary results from the National Bank.

This marks a slight decrease of 0.5% from November when reserves were $105.1 billion. However, reserves grew 9% over the full year from $95.97 billion at the end of 2023.

The National Fund's assets declined 3.41% to $58.81 billion in December.

Meanwhile, the National Bank's gross international reserves rose 3.6% to $45.81 billion in December (27.5% over the year). Foreign currency holdings surged 16.03% to $21.97 billion in the month (33.7% over the year), while gold assets dropped 5.71% to $23.84 billion in the month (growth of 22.2% over the year). Net international reserves also grew 3.26% to $43.56 billion in the month (28.6% over the year).

The official exchange rate as on January 14, 2025, is KZT 528.52/$1.