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Net gold and currency reserves of the National Bank of Kazakhstan grew 3.79% in 2011, making up $28.762 billion, the National Bank reported January 6. In December alone the indicator declined 9.03%, with net currency reserves falling by 10.57% and gold reserves growing by 2.94%. Assets of the National Oil Fund as of the end of December totaled $43.693 billion, 41.04% up against the end of 2010. 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.
Net gold and currency reserves of the National Bank of Kazakhstan grew 3.79% in 2011, making up $28.762 billion, the National Bank reported January 6.
In December alone the indicator declined 9.03%, with net currency reserves falling by 10.57% and gold reserves growing by 2.94%.
Assets of the National Oil Fund as of the end of December totaled $43.693 billion, 41.04% up against the end of 2010.
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.
