International reserves of RK reached $10.4 bln.

The international reserves of RK including the money of the National Fund (as per preliminary report - $3.8 billion) exceeded $10.4 billion in August 2004, increasing by 0.5% against July. The National Bank (NB) of Kazakhstan reported to KZ-today correspondent.

The international reserves of the National Bank have also increased. The net international reserves of the NB of RK in (current prices) increased by 0.3% or by $18.8 million in August against July.

The purchase of currency at the domestic currency market, service of the external debt of the Ministry of Finance of RK, replenishment of the NB assets were partly covered by foreign currency incomings to the government and non-bank financial organizations accounts, that leaded to the net international reserves reduction by $17.9 million.

The gold assets increased by 36.7 million due to the NB operations and its prices increasing on the world markets by 4.75%.

In steady prices the international net reserves of the National Bank of RK reduced by 0.2%, net assets in hard currency - by 0.3%, the assets in gold grew by 0.5%.

The net international reserves of the NB of RK increased due to money supply increasing by 1.5% (or by 5.7 billion tenge).

Translated by Nataliya Shirinskikh