BISHKEK, Kyrgyzstan, July 18. The monetary gold reserves of the National Bank of the Kyrgyz Republic surged to an all-time high of $3.938 billion in the first half of 2025, doubling from $1.8403 billion at the end of June 2024.
Data obtained by Trend from the National Bank indicates that assets reached $7.8441 billion, representing a 47 percent increase year-on-year. Gold has thus strengthened its role as the dominant component of the country's gold and foreign exchange reserves.
This sharp increase played a central role in the overall growth of the Bank's assets.
In addition to gold, other components of the National Bank’s assets also saw growth. Cash and accounts in banks and financial institutions rose from $1.2958 billion to $1.7974 billion. The Bank's investment portfolio expanded as well, with investments in securities valued at fair market price reaching $522.5 million, and those held at amortized cost totaling nearly $220 million.
Meanwhile, the volume of non-monetary gold and reserves declined slightly from $1.408 billion to $1.2265 billion. However, this had minimal impact on the overall structure, as monetary gold continues to gain in strategic importance.
Under conditions of increased volatility in the world markets, the National Bank's policy of strengthening reserves at the expense of gold emphasizes its confidence that this metal is a stable and protective asset.
