Recall that in September and October, the national Bank helped the government. In particular, the Ministry of Finance has taken on foreign markets more than $1 billion through Eurobonds placement.
Alas, in the last month of autumn the beneficial influence of this factor is exhausted. In November the foreign currency assets of the Central Bank decreased by 4.0% (up to $10 billion 775 million). If you do not take into account the data of the year, the last time such a low level of these assets were 13.5 years in the early spring of 2006.
During the same reign, Yerbolat Dossayev, the national Bank their amount decreased by $3 billion 179 million, we Cannot exclude that this amount was spent on keeping a stable rate of tenge, however, denied the regulator itself.
Since the beginning of the year currency assets decreased by 34.8% ($5 billion 761 million). If you add to this negative statistics, the situation with the current account deficit of the balance of payments, it is possible to understand why the financial regulator has not published information on devaluation expectations.
Assets of the National Bank of Kazakhstan in foreign currency, million USD at the end of the period
Decreased for November and assets of the national Bank of monetary gold. In relation to the October loss was 2.1%. That is, the regulator failed to compensate for the decrease in foreign exchange assets due to the growth of gold, so I went down and gross reserves.
They dropped in November by 2.8% ($842 million). Since the beginning of the year by 7.3% (in absolute terms – $2 billion 267 million). If we start counting from the moment of appointment of Mr. Dossayev head of the national Bank, since the end of February losses in gold reserves amounted to $477 million.
Gross SMP National Bank of Kazakhstan, million USD at the end of the period
The assets of the National Fund of Kazakhstan, managed by the national Bank, by the end of autumn there was positive dynamics. In November in comparison with October, their volume increased by 0.9% (up to $60 billion 457 million) in absolute terms – by $566 million Since the beginning of the current year increase was 4.3% ($2 billion 469 million). In principle, with current world oil prices, this result seems quite predictable.
Assets of the National Fund of the RK, mln USD at end of period