Gold and exchange currency reserves of Kazakhstan for 2007 grew by 16 %

Almaty. January 9. Kazakhstan Today - International reserves of Kazakhstan (in current prices) for 2007 increased by 15.7 %, the agency reports referring to the National Bank of the Republic of Kazakhstan.

In December, 2007 international reserves of the country (in current prices), including money of the National fund (according to preliminary estimates - $21 045.5 million), decreased by 1.1 % and made $38 438.0 million.

Reduction of net international reserves of the National Bank in December, 2007 caused compression of monetary base by 1.7 %, or by 25.7 billion KZT (for 2007 - by 2.5 %, or 37.0 billion KZT).

In current prices net international reserves of the National Bank in comparison with November, 2007 decreased by 4.0 %, or by $727.4 million (for 2007 reduction made 9.1 %, or $1.7 billion).

Sale of currency in the internal currency market, operations of the National Bank on service of external debt of the Ministry of Finance, reduction of the rests on the correspondent accounts of the second-tier banks in foreign currency in the National Bank, despite of income of currency on the government accounts, have led to reduction of foreign currency reserves.

As a result, net foreign currency reserves (hard currency) in December, 2007 have decreased by $818.8 million (for 2007 - by $2.2 billion). At the same time, assets in gold in December 2007 increased by $91.4 million - as a result of growth of its price in the world markets - by 4.25 % (in 2007 assets in gold have grown by $0.5 billion - as a result of the operations and growth of its price in the world markets - by 30.3 %).

In real terms, net international reserves of the National Bank have decreased by 4.5 % (in 2007 - by 10.0 %), net assets in hard currency - by 5 % (12.5 %), assets in gold have grown by 0.9 % (28.0 %).

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