Gold price surge lifts Kazakhstan's international reserves to $70.57 billion in August

September 17, 2026 at 08:00 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Kazakhstan's international reserves rose by $7.25 billion in August to $70.57 billion, an 11.4% monthly increase. The growth was driven almost entirely by a 15.8% rise in the value of gold assets, which reached $55.8 billion. Foreign currency assets declined by $377 million to $14.78 billion.

Key Facts

Kazakhstan's international reserves reached $70.57 billion in August, up $7.25 billion or 11.4% from July.
Gold assets rose by $7.62 billion, or 15.8%, to $55.8 billion, while foreign currency assets fell by $377 million to $14.78 billion.
The National Bank of Kazakhstan held 361 tonnes of gold at the end of June, about 78% of its international reserves, according to the World Gold Council.
The National Fund's assets reached $68.24 billion at the end of August, up $2.12 billion or 3.2% for the month.
Combined international reserves and National Fund assets totaled about $138.8 billion at the end of August.

Reserve Composition Shift

The National Bank reported that gold assets climbed from $48.17 billion to $55.8 billion in August, a monthly increase of $7.62 billion or 15.8%. Foreign currency assets declined from $15.15 billion to $14.78 billion, a decrease of $377 million. The rise in gold value was driven by a global market price increase from about $130 to $145 per gram, up 11.2% for the month. Kazakhstan has maintained a high share of gold in its reserves for years, purchasing from domestic producers.

External Financial Buffer

The National Fund's assets reached $68.24 billion at the end of August, up $2.12 billion or 3.2% from July. Together, international reserves and National Fund assets amounted to approximately $138.8 billion. The National Bank states that reserves serve as highly liquid external assets to cover balance-of-payments deficits, influence the currency market, and support confidence in the tenge. Reserve levels are also considered in assessments of Kazakhstan's sovereign credit rating.