February 5, 2020 / 3:55 AM / 19 days ago

Kazakhstan's cenbank sells $489.4 mln from sovereign fund in Jan

ALMATY, Feb 5 (Reuters) - Kazakhstan’s central bank sold $489.4 million from the rainy-day National Fund on the domestic market in January to help finance the state budget, it said on Wednesday.

The oil-exporting Central Asian nation routinely taps its sovereign fund to finance government expenditure, but has never before disclosed foreign currency sales from it on a monthly basis.

The central bank transferred a total of 575 billion tenge ($1.5 billion) from the $62-billion fund to the budget last month, it said, most of the money coming from a local tenge currency account. (Reporting by Olzhas Auyezov; Editing by Clarence Fernandez)

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