BISHKEK, Kyrgyzstan, September 7. Kyrgyzstan's gross international reserves reached $2.537 billion as of August 31, 2023, Trend reports.
The National Bank of the country announced that over the past month, gross international reserves increased by $8.07 million. As of the end of July 2023, Kyrgyzstan's gross international reserves stood at $2.529 billion.
However, the country’s gross international reserves decreased by $30.61 million compared to August 2022 and by $260.88 million since the beginning of the year.
The highest level of reserves in Kyrgyzstan was recorded in September 2021, at $3.241 billion.
The National Bank uses these reserves to smooth out sharp fluctuations in the foreign exchange market. Since the beginning of the year, the National Bank of Kyrgyzstan has conducted ten interventions to sell dollars, totaling $536 million.
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.