February gold and exchange currency reserves of Kazakhstan decreased by 0.9 %
Almaty. February 20. Kazakhstan Today - The international reserves of the country as a whole (in current prices), including money of the National Fund (by preliminary data - $21 686.1 million), have decreased by 0.9 % and have made $40 348.7 million, the agency reports referring to the message of the National Bank of the Republic. Decrease in net international reserves of the National Bank in the first half of February, 2008 would cause compression of monetary base by 0.1 % (or by 2.2 billion KZT). Net international reserves in current prices of the National Bank have decreased by 2.6 % (or by $498.5 million). Purchase of currency in internal currency market and income of currency on the government accounts in the National Bank have been neutralized by reduction of the rests on correspondent accounts of the second-tier banks in foreign currency in the National Bank and operations of the National Bank for service of external debt of the Ministry of Finance. As a result, net foreign currency reserves (hard currency) have decreased by $470.5 million, assets in gold - by $28.0 million, as a result of reduction of its price in the world markets by 1.4 %. In real terms, net international reserves of the National Bank decreased by 2.5 %, net assets in hard currency - by 2.7 %, assets in gold have remained at the previous level.
Resourse: Kazakhstan Today