BISHKEK, Kyrgyzstan, August 29. The international reserves of the National Bank of Kyrgyzstan amounted to $2.512 billion as of August 29, 2023, Azat Kozubekov, the Head of the Monetary Operations Department at the bank, said, Trend reports.
According to Kozubekov, the bank also holds gold in its assets. "In terms of the total amount of gold in the National Bank's assets, which is part of the reserves, we have 49.8 tons of gold as of July 31," he said.
Kozubekov noted that the bank assesses the current situation in the currency market as stable. He added that in 2023, the bank would conduct interventions only for the sale of foreign currency.
International reserves are crucial for the stability of the Kyrgyz som and are used, among other things, to smooth fluctuations of the exchange rate and meet the demand for foreign currency in the domestic market.