Kazakhstan's National Bank plans to sell $200–300 mln in foreign currency from National Fund in SeptThe National Bank of Kazakhstan expects to sell between $200 million and $300 million in foreign currency from the National Fund on the Kazakhstan Stock Exchange in September, the regulator said in a statement.The tenge strengthened by 2.6% in August, closing at 461.57 per U.S. dollar. Average daily trading volume on the exchange rose to $415 million from $389 million over the month, with total turnover reaching $8.7 billion.The National Bank conducted no currency interventions in August.In August, $200 million was sold from the National Fund on the exchange market. Those operations accounted for 2.3% of total trading volume, or roughly $9.5 million per day.“Beginning in September, the National Bank will also start mirroring National Fund operations on the domestic foreign-exchange market. Under this mechanism, sales of previously purchased foreign currency in September are expected to range from $200 million to $300 million,” the statement said.As part of mirroring operations for gold purchases, about 374 billion tenge was sterilized in August. Over the course of September, the bank expects to sell foreign currency equivalent to that amount for these purposes.To maintain the foreign-currency share of pension assets managed by the Unified Accumulative Pension Fund, the National Bank purchased foreign currency on the exchange in August, with total purchases amounting to $721 million, or about 8.3% of overall trading volume.Further decisions will be made based on market conditions within the framework of investment management of pension assets, the National Bank noted. (ICE ALMATY)

Fonte notizia: INTERFAX