BAKU, Azerbaijan, June 26. The gold assets of the National Bank of Kyrgyzstan have increased by 41.4 billion soms ($474.2 million) over the year, Trend reports.
As the bank reported, as of the end of May 2023, the gold reserve of the National Bank of Kyrgyzstan amounted to 91.6 billion soms ($1.04 billion). In the same period of 2022, this figure stood at 50.1 billion soms ($573.8 billion).
This signifies significant growth in the bank's gold holdings, highlighting the bank's focus on diversifying its reserves and strengthening its position in the global gold market. The increase in gold assets reflects the National Bank's strategic approach to safeguarding the country's wealth and ensuring stability in the financial sector.
This substantial growth in gold assets is a positive development for the National Bank of Kyrgyzstan, demonstrating its commitment to prudent financial management and the pursuit of sound monetary policies. The accumulation of gold reserves provides a valuable cushion against market uncertainties and contributes to the overall stability and resilience of the country's economy.