National Bank of Kazakhstan sells $1.1 billion at domestic market in May

AKIPRESS.COM - "The domestic foreign exchange market was developing positively in May under influence of external and internal factors. The growth of oil prices was favorable for the currencies of main trade partners of Kazakhstan. The Russian ruble strengthened by 5.7% in May. The additional support of the national currency was provided by planned sale of foreign currency from the National Fund," National Bank Chairman Yerbolat Dosayev said.
"$1.1 billion was sold in May. The receipt of foreign currency in the amount of $670 million, investment incomes as a result of partially recovered securities market in May compensates sale of the foreign currency from the National Fund," the Bank Chairman said.