BAKU, Azerbaijan, February 28. The international reserves of the National Bank of Kyrgyzstan amounted to $2.6 billion in January 2023, Trend reports with reference to the bank.
The reserve assets of the National Bank of Kyrgyzstan in foreign currency amounted to $1.2 billion, in gold - to $1 billion, as of January 2023.
As the bank official pointed out during the press conference, currently, the National Bank has 46.7 tons of gold at its disposal. These deposits have been produced in the country since 2021.
Notably, as of November 2022, the gross international reserves of Kyrgyzstan amounted to $2.79 billion, which was an increase of 8.1 percent compared to October 2022 ($2.58 billion).
The bank's official also noted that the bank has conducted four currency interventions since the beginning of the year to smooth out sharp fluctuations in the exchange rate. The value of the interventions made up $227 million.
According to the bank’s official, the interventions are one of the instruments of the monetary policy of Kyrgyzstan, aimed at stabilization of the situation in the currency market.
“The situation in the foreign exchange market remains relatively stable at present. The bank observes the situation in daily basis and, if necessary, takes measures in accordance with the situation,” the official said.
In the first intervention of 2023, the National Bank of Kyrgyzstan sold $104.2 million in the foreign exchange market, on January 10. During the following interventions, the bank sold $47.1 million on February 6, $40.2 on February 13, and $35.6 million on February 15.