Kazakh state sells $1.3 billion worth of foreign currency on domestic market in January By Reuters

© Reuters.

ALMATY (Reuters) – Kazakhstan’s central bank and state-owned enterprises sold a total of $1.283 billion worth of foreign currency on the domestic market last month, the bank said on Wednesday.

The bank said it sold $696 million to facilitate a transfer from the National Fund to the state budget, while state-controlled companies sold $346.5 million.

The regulator also sold $239.8 million of its own reserves on January 12-13 to support the local tenge currency as trading resumed after violent unrest in the oil-rich Central Asian nation.

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