In September 2011 net international reserves of the National Bank of Kazkahstan decreased by 10.0% and made $31.9 bn

/IRBIS, October 12, 2011/ - In September 2011, net international reserves of National Bank of Kazakhstan decreased by 10.0% to $ 31.9 billion (from the beginning of the year - an increase of 15.2%), reported the press service of the National Bank of Kazakhstan. As indicated, the gross international reserves of National Bank fell by 9.8% to $ 32.5 billion (from the beginning of the year - an increase of 14.9%). It is noted that sales of foreign currency on the domestic market, government debt service, replenishment of assets of the fund from the accounts of foreign exchange reserves were partially offset by the receipt of currency on accounts of the Government in the National Bank and an increase in balances on correspondent accounts in foreign currency in National Bank. As a result, net foreign currency assets (SLE) in September 2011 decreased by 10.4%. Gold assets decreased by 6.7% due to lower its price on world markets. In September 2011 the international reserves of the country, including assets of the National Fund in foreign currency (preliminary $ 40.0 billion), went down by 5.1% to $ 72.5 billion (from the beginning of the year - an increase of 22 4%). The monetary base in September 2011 shrank slightly, by 0.1% and amounted to KZT 2,883.1 billion (from the beginning of the year - a 12.1% increase). The narrow monetary base, ie monetary base, excluding time deposits in commercial banks National Bank, has expanded only slightly, by 0.03%, to 2,621.5 billion tenge. During August 2011 the money supply decreased by 2.3% to 9,514.3 billion (from the beginning of the year - an increase of 12.2%). Cash in circulation increased by 1.6% to KZT 1,254.1 bln (from the beginning of the year - an increase of 9.2%). Deposits in the banking system in August 2011 decreased by 2.9% to 8 260.2 billion (from the beginning of the year - an increase of 12.6%). The share of deposits in the structure of money supply fell from 87.3% in July 2011 to 86.8% in August 2011 due to the reduction of deposits against the growth of cash in circulation. The money multiplier increased from 3.05 in July 2011 to 3.30 by end-August 2011, due to lower rates to reduce money supply, compared with the rate of contraction of the monetary base, captured in August 2011. [2011-10-12]