National Bank's gold and currency reserves decrease by 4.3% since Jan 2023

ASTANA. KAZINFORM Gross international reserves of the National Bank made 96.5 billion US dollars at the end of August 2023. Newly-appointed Governor of the National Bank Timur Suleimenov said it at the Government’s weekly meeting, Kazinform reports.

Meanwhile, gold and foreign currency reserves reduced by 4.3% since the year beginning and made 33.6 billion US dollars, due to converting the funds to the Government’s currency accounts to pay the public debt. Another reason is reduction of second-tier banks’ funds on foreign currency accounts of the National Bank amid de-dollarization of deposits.

Alongside, the assets of the National Bank increased since January by 7.5% or by 4.2 billion US dollars and reached 59.9 billion US dollars, due to rise in investment income – by 6.10% or 3.4 billion US dollars.

The transfers from the National Bank to the national budget made 2.9 trillion tenge. Cumulative revenues to the National Fund amounted to 3.3 trillion tenge.