February 5, 2020 / 3:57 AM / 15 days ago

Kazakhstan's cenbank sells $489.4 mln from sovereign fund in Jan

ALMATY, Feb 5 (Reuters) - Kazakhstan’s central bank sold $489.4 million from the rainy-day National Fund on the domestic market in January to help finance the state budget, it said on Wednesday.

The oil-exporting Central Asian nation routinely taps its sovereign fund to finance government expenditure, but has never before disclosed foreign currency sales from it on a monthly basis.

The central bank transferred a total of 575 billion tenge ($1.5 billion) from the $62-billion fund to the budget last month, it said, most of the money coming from a local tenge currency account. (Reporting by Olzhas Auyezov; Editing by Clarence Fernandez)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below