Kazakhstan Bolsters Its Economy with a Gold-Heavy Reserve Strategy

Over the past decade, Kazakhstan has significantly altered the composition of its gold and foreign exchange reserves, according to a report by LS. As of February 2024, the National Bank of Kazakhstan reported the country’s total reserves at $36.1 billion, a 38.6% increase from $26.05 billion in 2014. This growth is characterized by a decrease in foreign currency assets by $4 billion and a remarkable increase in gold reserves by 3.2 times—from $6.3 billion in February 2014 to $20.01 billion in 2024.