13:27, 07 December 2016 | GMT +6
Kazakhstan's gold, forex reserves up - National Bank
ASTANA. KAZINFORM - In November 2016 Kazakhstan's gold and foreign exchange reserves totaled $29,8 billion, Kazinform correspondent reports.
"According to preliminary data, gold and foreign exchange reserves of the National Bank amounted to $29,8 billion as of December 1," Chairman of the bank Daniyar Akishev said at a press conference on Wednesday.
In his words, the reserves decreased in November due to closing out of currency swaps with the banks ($700 million in November and $4,8 billion since the onset of the year) and lower gold prices.
"However, gold and foreign exchange reserves increased for $2 billion since the beginning of the year," Akishev noted.
Total sum of Kazakhstan's international reserves, including the assets of the National Fund to the amount of $61 billion, reached $91 billion or nearly 70% of GDP.