Kazakhstan sees increase in gold, forex reserves in 2016
19:08, 9 January 2017
ALMATY. KAZINFORM - Kazakhstan's gold and foreign exchange reserves increased for $1,9 billion in 2016, Kazinform correspondent has learnt from the press service of the National Bank of the Republic of Kazakhstan.
"The National Bank has not intervened in the foreign exchange market for four months from September till December 2016," said Chairman of the bank Daniyar Akishev, adding that it didn't influence the exchange rate at all.
He noted that based on preliminary data the bank's gold and foreign exchange reserves totaled $29,8 billion increasing for $1,9 billion from the early 2016.
"Foreign exchange holdings of the National Fund made $61 billion at the yearend. Kazakhstan's international reserves amounted to $90,8 billion or 68% of GDP," the Chairman of the National Bank added.