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Kazakhstan’s aggregate gold and currency reserves exceed $ 70 billion

19 april 2011, 14:54
0
REUTERS/Petr Josek Snr©
REUTERS/Petr Josek Snr©
Aggregate gold and currency reserves of Kazakhstan [gold and currency reserves of the National Bank plus assets of the National Oil Fund] have exceeded $ 70 billion as of April 18, Gregory Marchenko, Head of the National Bank, told a briefing April 18.

Earlier, the National Bank informed that the gold and currency reserves of the National Bank grew 25% for January – March, reaching $ 34.6 billion.

As of the end of March, assets of the National Oil Fund stood at $ 33.8 billion, whereas at the start of the year the figure made up $ 30.6 billion, Novosti Kazakhstan reports.

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.

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