BISHKEK, Kyrgyzstan, October 5. Kyrgyzstan’s international gross reserves have surpassed $2.629 billion by the end of September 2023, Trend reports.
As per the country’s National Bank, Kyrgyzstan's international gross reserves were at $2.5 billion during the same period in 2022, which is $129 million less than the current values.
This surge in reserves marks the fifth consecutive month of growth, starting in May of this year. Here's a breakdown of the international reserves for the months leading up to September:
|
Month of 2023 |
Gross reserves |
Liquid part of reserves |
|
January |
$2.749 billion |
$2.668 billion |
|
February |
$2.545 billion |
$2.465 billion |
|
March |
$2.489 billion |
$2.411 billion |
|
April |
$2.338 billion |
$2.259 billion |
|
May |
$2.408 billion |
$2.331 billion |
|
June |
$2.439 billion |
$2.363 billion |
|
July |
$2.529 billion |
$2.453 billion |
|
August |
$2,537 billion |
$2.462 billion |
|
September |
$2.629 billion |
$2.555 billion |
The National Bank uses these reserves to smooth out sharp fluctuations in the foreign exchange market. Last year, the bank conducted 15 interventions, including seven to buy dollars on the market. In total, $190.74 million was purchased, and $419.850 million was sold. The net sale of dollars on the market amounted to $229.11 million.