Kazakhstan’s foreign reserves top $50 billion for the first time

For the first time, Kazakhstan’s net international reserves exceeded $50 billion, according to statistics from the National Bank. In April, the value increased by 4.76% or $2.28 billion and by 15.51% or $6.75 billion, since the beginning of the year.

Gross international reserves — composed of monetary gold and assets denominated in convertible foreign currency (CFC) — totaled $52.3 billion.

Gold reserves reached $30.7 billion, marking a 5.59% increase over the month and a 29.06% rise since the beginning of the year. Assets in CFC totaled $21.6 billion, showing a 3.33% monthly increase but a 1.61% decrease year-to-date.

At the same time, the foreign currency assets of Kazakhstan’s National Fund continued their downward trend, showing a 0.09% decline in April and a 1.74% decrease since the beginning of the year, totaling $57.8 billion.

Net international reserves are calculated excluding the National Bank’s currency liabilities, the main portion of which consists of banks’ minimum reserve requirements. These are determined as a share of the foreign currency liabilities that banks attract.