Kazakhstan's Gold Reserves Top $70B

Source: Interfax (4/19/11)

"Gold and Forex reserves have risen significantly since January 2011."

Kazakhstan's foreign exchange reserves, including the National Bank of Kazakhstan's gross reserves and funds accumulated in the National Fund, went up to $70 billion, the head of the National Bank Grigory Marchenko said at a Tuesday briefing in Almaty.

As of the end of March Kazakhstan's foreign exchange reserves reached $69 billion.

The gold and forex reserves increased by 3.9% in March and by 17.1% since January 2011. The reserves of the National Fund came to $33.8 billion as of the end of March. The National Bank's net international reserves rose 5.3% (25% up from January) to $34.6 billion in March.

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