Kazakhstan Central Bank: Sold 354 Billion Tenge in Foreign Exchange in June to Hedge Gold Purchases

On July 1, the Kazakhstan Central Bank announced that it sold 354 billion tenge in foreign exchange in June to hedge its gold purchasing operations, and it is expected to sell 1.1 trillion tenge in foreign exchange in the third quarter. In June, it sold 200 million dollars in foreign exchange from the national fund in the domestic market and plans to sell up to 300 million dollars more in July.