International reserves up $2.4bn – National Bank
NUR-SULTAN. KAZINFORM – Kazakhstan’s international reserves have increased by $2.4 billion in a month and totaled $35.3 billion by late July, Kazinform correspondent reports.
Such a rise in the country’s international reserves is attributed to an increase in gold value which rose by 12% from 1,771 to 1,975 US dollars per ounce in the past month. The reserves have crossed the $35bn mark for the first time since 2012.
In late July 2020, the National Fund’s currency assets stood at $58.24 billion, up 0.5bn from the previous month. The Fund’s investment revenue was $1.58 billion, largely gained from returns from developed country bonds. Portfolios of stocks and gold rose by 4.8% and 11.5%, respectively.