National Bank’s gold and FX reserves figure announced

The National Bank’s net gold and FX reserves (excluding assets of the National Oil Fund) grew by 8.64% in April to $34.5 billion, the National Bank reports.The net FX reserves for the period grew by 9.8% to $29.8 billion, with gold assets growing by 1.7% to $5.2 billion.Since the start of the year the net gold and FX reserves have grown by 19.93%.The assets of the National Oil Fund as of the end of April stood at $51.011, 5.66% up from the end of March and 16.75% up against the start of the year.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.