| CASH AND CASH EQUIVALENTS |
CASH AND CASH EQUIVALENTS As of June 30, 2023, and March 31, 2023, cash and cash equivalents consisted of the following:
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June 30, 2023 |
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March 31, 2023 |
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| Short term deposits in National Bank (Kazakhstan) |
$ |
275,196 |
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|
$ |
357,454 |
|
| Short term deposits in commercial banks |
128,465 |
|
|
83,755 |
|
| Securities purchased under reverse repurchase agreements |
97,426 |
|
|
29,812 |
|
| Petty cash in bank vault and on hand |
37,430 |
|
|
35,998 |
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| Overnight deposits |
22,853 |
|
|
1,926 |
|
| Short term deposits in stock exchanges |
21,695 |
|
|
31,691 |
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| Short term deposits on brokerage accounts |
11,431 |
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|
37,417 |
|
| Cash in transit |
3,030 |
|
|
3,364 |
|
Bank deposits |
104 |
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|
— |
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|
|
|
|
| Allowance for Cash and cash equivalents |
$ |
(266) |
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|
$ |
— |
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|
|
|
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| Total cash and cash equivalents |
$ |
597,364
|
|
|
$ |
581,417
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As of June 30, 2023, and March 31, 2023, cash and cash equivalents were not insured. As of June 30, 2023, and March 31, 2023, the cash and cash equivalents balance included short-term collateralized securities received under reverse repurchase agreements on the terms presented below:
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June 30, 2023 |
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Interest rates and remaining contractual maturity of the agreements |
|
Average interest rate
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Up to 30 days |
|
30-90 days |
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Total |
Securities purchased under reverse repurchase agreements
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| Non-US sovereign debt |
15.90 |
% |
|
$ |
46,085 |
|
|
$ |
— |
|
|
$ |
46,085 |
|
| US sovereign debt |
1.74 |
% |
|
31,278 |
|
|
86 |
|
|
31,364 |
|
| Corporate equity |
17.82 |
% |
|
17,796 |
|
|
— |
|
|
17,796 |
|
| Corporate debt |
2.05 |
% |
|
2,181 |
|
|
— |
|
|
2,181 |
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| Total |
|
|
$ |
97,340
|
|
|
$ |
86
|
|
|
$ |
97,426
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|
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March 31, 2023 |
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Interest rates and remaining contractual maturity of the agreements |
|
Average interest rate
|
|
Up to 30 days |
|
30-90 days |
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Total |
| Securities purchased under reverse repurchase agreements |
|
|
|
|
|
|
|
| US sovereign debt |
2.06 |
% |
|
$ |
17,102 |
|
|
$ |
— |
|
|
$ |
17,102 |
|
| Corporate equity |
17.17 |
% |
|
6,963 |
|
|
— |
|
|
6,963 |
|
| Non-US sovereign debt |
6.12 |
% |
|
3,483 |
|
|
— |
|
|
3,483 |
|
| Corporate debt |
2.52 |
% |
|
2,079 |
|
|
185 |
|
|
2,264 |
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| Total |
|
|
$ |
29,627
|
|
|
$ |
185
|
|
|
$ |
29,812
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The securities received by the Group as collateral under reverse repurchase agreements are liquid trading securities with market quotes and significant trading volume. The fair value of collateral received by the Group under reverse repurchase agreements as of June 30, 2023, and March 31, 2023, was $97,260 and $31,165, respectively.
As of June 30, 2023 and March 31, 2023, securities purchased under reverse repurchase agreements included accrued interest in the amount of $12 and $11, with a weighted average maturity of 5 days and 9 days, respectively. All securities repurchase agreements transactions were executed through the Kazakhstan Stock Exchange.
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