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Aggregate gold and currency reserves of Kazakhstan 24.5% up since January

07 july 2011, 16:14
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] made up $73.3 billion as of the end of June, Press Service of the National Bank reports.

The figure has grown 24.5% since the start of the year. Assets of the National Fund alone as of the end of June stood at $38.5 billion. 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.

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