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Gold and currency reserves grew by 31% in January-April to $36.4 billion

05 may 2011, 19:37
0
REUTERS/Petr Josek Snr©
REUTERS/Petr Josek Snr©
Net gold and currency reserves of the Kazakhstan’s National Bank for January – April grew by 31%, reaching $36.4billion, Novosti Kazakhstan reports, citing the National Bank.

In April, gold and currency reserves grew by 5.14%, with net currency reserves growing by 4.92% and gold reserves growing by 7%.

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.

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