Kazakhstan’s International Reserves Reach $124.1 Billion
Kazakhstan’s international reserves rose to $124.1 billion at the end of October, fueled by higher gold holdings and increased bank deposits with the National Bank of Kazakhstan (NBK), according to the Association of Financiers of Kazakhstan (Nov. 12).
NBK gross reserves: $60.7 billion, up 5.8% monthly
- Gold portfolio: $41.9 billion, +5.6%
- Commercial banks’ deposits with NBK: $18.8 billion, +6.1%
- National Fund foreign assets: $63.4 billion
- Total reserves (including National Fund): $124.1 billion, +$3.7 billion for October
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Financial market overview:
- Money market: high liquidity; TONIA rate fell to 17%, SWAP-1D yield steady at 9.37%
- Trading volume: 938.1 billion tenge (~US$1.74 billion)
- NBK deposit auction demand: doubled to 1.2 trillion tenge (~US$2.22 billion)
Stock market:
- KASE index up 0.1%
- Gainers: KazMunayGas +1.3%, Kazatomprom +1.2%
- Decliner: Kazakhtelecom -2.1%
Corporate update:
- Air Astana: revenue 571.8 billion tenge (~US$1.06 billion), +24% YoY; net profit 16.4 billion tenge (~US$30.4 million), -34% due to unplanned engine removals
Global context:
- US stock indices mixed amid labor market concerns and government shutdown risks
- Gold prices slightly down to $4,116/oz; US dollar index at 99.4 points
Kazakhstan’s reserve growth strengthens financial stability, supporting currency stability and investor confidence.
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