As of December 2022, Kazakhstan’s international reserves increased by 1% to $90.8 billion, including $35 billion of gross international reserves and $55.7 billion of National Fund assets, according to the country’s National Bank.
At the same time, the regulator noted that the country’s gold and foreign currency reserves have dropped by 4.8% to $20.5 billion, while assets in freely convertible currency increased by 16.7% to $14.6 billion.
Gold and foreign currency reserves are meant to be used to support the tenge exchange rate or to finance the deficit of the balance of payments. The National Bank forms these reserves at...