Gold and currency reserves stand at $74.1 billion as of the end of May

Aggregate gold and currency reserves of Kazakhstan [gold and currency reserves of the National Bank plus assets of the National Oil Fund] made up $74.1 billion as of the end of May, 25.9% up against the start of the year, Novosti Kazakhstan quoted the National bank of Kazakhstan June 15. Net gold and currency reserves of the Kazakhstan’s National Bank decreased in May 2.7% to $35.5 billion. The figure has grown by 27.9% from the start of the year. Assets of the National Oil Fund as of the end of April stood at $36 billion, whereas at the start of the year the figure made up $30.6 billion. The National Fund of Kazakhstan was created in 2000 as a stabilization fund that accumulates windfall revenues from oil sales and ensures the economy of Kazakhstan will be stable against the price swings of oil. The assets of the National Fund assets are monitored by the National Bank of the Republic of Kazakhstan.