Gross foreign exchange and Gold reserves, including the gross reserves of the National Bank and National Fund, in Kazakhstan grew by 4.4% to US$82.7-B in February, the National Bank Chairman Grigorii Marchenko said at Tuesday press conference in Almaty. According to him, the reserves grew 13.3% in the 1st 2 months, the National Fund contained US$47.41-B as at the end of February.

The National Bank's gross international reserves rose 20.6% in the 2 months and 4.9% in February to US$35.4-B. Its net international reserves rose 21% in the 2 months and 5.1% in February to US$34.8-B.

Net Forex assets grew 19.5% in the 2 months and 5% in February to US$30.072-B, and Gold assets grew 27.2 and 5.4%, respectively, to US$5.281-B.

It's reported that the monetary base grew 2.5% in February and 22.3% in January-February to US$23.45-B. The narrow base, which does not include the term deposits of commercial banks with the National Bank, widened 3.8% in February to US$22.2-B.

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.