Net FX/gold reserves of the National Bank of Kazakhstan increased by 1.57% m/m to USD 25.334bn, the bank has informed. In ytd terms however, FX/gold reserves shrank by 8.69%. To remind, the NBK intervened on the market in July in order to prevent KZT depreciation.
Foreign currency reserves declined by 0.19% m/m and by 10.62% m/m to USD 19.781bn. On the other hand, gold reserves increased by 7.65% m/m but shrank by 1.07% ytd to USD 6.082bn.
National Oil Fund’s assets continued positive trend and increased by 2.5% m/m and by 14.18% ytd to USD 69.955bn as of the reported date.
Lukoil is expanding its oil and gas operations in Kazakhstan, the Moscow-based Kommersant newspaper reported on April 8, amid limited overseas opportunities for the company because of Russia’s ... more
Kazakhstan and Uzbekistan’s combined IT exports surpassed $800mn in 2023. The Kazakh IT sector's export revenue jumped from $50mn in 2020 to over $500mn last year. Astana Hub was a major ... more
Engineers have commenced the $6.3mn and three-month reconstruction of the 75-kilometre (47-mile) cross-border railway line that links Uzbekistan and Afghanistan, ... more