According to the National Bank, Kazakhstan's international reserves grew by $7.25 billion in August to reach $70.57 billion, Kazinform reports. The monthly increase was 11.4%.
The main contribution came from a revaluation of the gold stock: its value rose from $48.17 billion to $55.8 billion, an increase of $7.62 billion, or 15.8%. Foreign currency assets, by contrast, declined from $15.15 billion to $14.78 billion — a drop of $377 million. On the global market, a gram of gold rose in price from about $130 to $145, up 11.2% over the month.
According to the World Gold Council, at the end of June the National Bank's gold stock stood at 361 tonnes, accounting for about 78% of international reserves. In 2025, Kazakhstan purchased 57 tonnes of gold and ranked second in the world by volume of purchases.
The National Fund's foreign currency assets reached $68.24 billion in August, up $2.12 billion, or 3.2%, over the month. In total, the country's external financial assets amounted to about $138.8 billion.
The publication emphasises: the rise in reserves does not mean an inflow of an additional $7 billion — it is predominantly a revaluation effect that could evaporate if the gold price falls. The National Bank has previously stated its intention to reduce the share of gold in reserves and sell part of it.
Source: Kazinform