The central bank of Kazakhstan conducts supplementary foreign exchange operations to allocate foreign exchange assets for the pension fund.

⑴ The Central Bank of Kazakhstan disclosed that in October, it purchased $542 million in foreign exchange for the national pension fund. ⑵ In October, the bank sold 287 billion tenge worth of foreign exchange, corresponding to the concurrent gold procurement plan, and plans to sell another 287 billion tenge of foreign exchange in November. ⑶ Market view: Such hedging foreign exchange operations help to stabilize the tenge exchange rate and reduce the fluctuation pressure on the local currency brought by increased gold holdings.