Kazakh gold & forex reserves grow 24.5% in H1
ALMATY. July 5 (Interfax) - Kazakhstan's gold and foreign currency reserves, including National Bank of Kazakhstan forex reserves and National Fund monies, stood at $73.3 billion at the end of June, down 1.1% over the month but up 24.5% since the start of the year, the National Bank reported.
The National Fund, initial figures indicate, saw its funds reach $38.5 billion. Net National Bank international reserves decreased over June by 3.4% to $34.2 billion (up 23.5% from the beginning of the year).
The purchase of currency on the domestic forex market, the arrival of forex on the government's account with the National Bank, and increased forex remainders in banks' correspondent accounts with the National Bank were neutralized by the servicing of the government's foreign debts and the replenishment of National Fund assets from gold and forex reserve accounts.
The result was net forex assets decreasing 4.1% in June while assets held in gold increased 2.6%.
The monetary base expanded 1.6% in June to 2.888 trillion tenge (12.3% over the first half). The narrow monetary base (not counting banks' term deposits with the National Bank) expanded 2.2% to 2.358 trillion tenge.
The official exchange rate for July 5: 145.84 tenge/$1.