BAKU, Azerbaijan, April 10. Gross international reserves of Kyrgyzstan amounted to $2.489 billion in March 2023, Trend reports with reference to the National Bank of Kyrgyzstan.
The figure decreased by $55.8 million compared to February 2023 ($2.545 billion), and by $272.2 million year-on-year (2.761 billion in March 2022). The international reserves of Kyrgyzstan totaled $2.749 million in January 2023.
In general, the highest level of international reserves of Kyrgyzstan was registered in September 2021 ($3.241 billion).
The National Bank of Kyrgyzstan uses international reserves to smooth out sharp fluctuations in the foreign exchange market. Since the beginning of the year, the bank has conducted six interventions to sell US dollars for a total of $307.3 million.
The bank carried out intervention in the foreign exchange market 15 times in 2022. During 8 of them, an amount of foreign currency worth $486.5 million was sold, and 7 interventions were for the purchase of $190.74 million.
During the largest intervention of the year on December 20, 2022, the National Bank of Kyrgyzstan sold $87.5 million.