March 6, 2020 / 4:28 AM / a month ago

Kazakhstan's cenbank sells $557.3 mln on domestic market in Feb

ALMATY, March 6 (Reuters) - Kazakhstan’s central bank sold $557.3 million on the domestic market in February, including $94.8 million from its own reserves and $462.5 million from the National Fund, it said on Friday.

The bank said the drop in the price of oil at the end of last month prompted a spike in demand for foreign currency, forcing it to intervene. Sales from the rainy-day National Fund are made regularly to finance the state budget. (Reporting by Olzhas Auyezov; Editing by Himani Sarkar)

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