Kazakhstan’s international reserves showed a positive trend in July 2026. According to the National Bank’s latest statistics, gross international reserves rose by 3.05% over the month to reach $63.7 billion as of Aug. 1.
The increase followed a sharp decline a month earlier. In June, gross international reserves fell by 8.19% to $61.8 billion. Despite the recovery in July, gross international reserves were down 2.6% from the beginning of the year.
Assets in freely convertible currencies saw the most significant change in July. Their value rose by 9.02% over the month, from $14.3 billion to $15.5 billion.
However, the growth in July was not yet enough to offset the decline since the beginning of the year. Compared with the end of 2025, foreign exchange assets were down 14.5%, or around $2.6 billion. In December 2025, they stood at $18.2 billion.
The value of monetary gold held in international reserves rose by 1.26% in July to $48.2 billion. In June, the figure stood at around $47.6 billion.
Since the beginning of the year, the value of gold reserves has risen by 1.98%, or around $0.9 billion. At the end of 2025, the figure stood at $47.2 billion. Meanwhile, the market value of gold increased by 0.6% during July.
Kazakhstan’s net international reserves also increased. In July, they rose by 3.18%, from $59.8 billion to $61.7 billion. However, they were still down 2.23% from the beginning of the year.
Foreign currency assets of Kazakhstan’s National Fund also showed a positive trend. In July, they rose by 0.79% to $66 billion. A month earlier, they stood at around $65.5 billion. Since the beginning of 2026, the National Fund’s assets have risen by 3.32%, or around $2.1 billion. At the end of December 2025, they stood at $63.9 billion.
July ended with growth across all the key indicators: gross and net international reserves, the National Bank’s foreign currency assets, the value of monetary gold and the National Fund’s assets all increased. At the same time, gross international reserves and assets in freely convertible currencies remained below their levels at the beginning of the year. In contrast, gold reserves and the National Fund’s assets have increased since the beginning of 2026.
