ALMATY — Kazakhstan’s international reserves rose to $124.1 billion at the end of October, driven by an increase in gold holdings and higher bank deposits with the National Bank of Kazakhstan (NBK), according to the data, released on Nov. 12 by the Association of Financiers of Kazakhstan.
Photo credit: Association of Financiers of Kazakhstan
Gross international reserves of the NBK increased by 5.8% over the month, reaching $60.7 billion. The rise was largely due to a 5.6% increase in the gold portfolio, now valued at $41.9 billion, while commercial banks’ deposits with the NBK expanded to $18.8 billion, up 6.1%.
Including the National Fund’s foreign currency assets of $63.4 billion, total reserves amounted to $124.1 billion, reflecting a $3.7 billion monthly increase.
On the money market, liquidity remained high. The TONIA rate edged down to 17%, while the SWAP-1D yield held steady at 9.37%. Trading volume increased to 938.1 billion tenge (approximately US$1.74 billion), with demand at the NBK’s deposit auction doubling to 1.2 trillion tenge (US$2.22 billion) at an annual rate of 18%.
On the stock market, the KASE index inched up 0.1%, supported by gains in mining shares. KazMunayGas rose 1.3%, while Kazatomprom gained 1.2%. Kazakhtelecom declined 2.1%, partially offsetting the growth.
Air Astana reported revenue of 571.8 billion tenge (US$1.06 billion) for the January–September 2025 period, up 24% from the previous year, while net profit fell 34% to 16.4 billion tenge (US$30.4 million) due to unplanned engine removals.
The United States stock indices closed mixed as investors assessed signs of labor market weakness and awaited delayed macroeconomic data amid government shutdown concerns. Gold prices eased slightly by 0.1% to $4,116 per ounce, while the U.S. dollar index slipped to 99.4 points.
