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Kyrgyzstan's international gross reserves increase

Kyrgyzstan Materials 12 December 2023 13:53 (UTC +04:00)
Abdullo Janob
Abdullo Janob
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BISHKEK, Kyrgyzstan, December 12. Kyrgyzstan's international gross reserves exceed $3.62 billion as of the end of November 2023, Trend reports.

Data from the National Bank of the country shows that this marked the highest reserve level in the last two years. Over the past month, international gross reserves surged by $227.82 million, increasing by $285.45 million compared to November 2022.

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

October

$2.834 billion

$2.760 billion

November

$3.062 billion

$2.987 billion

The peak reserve level in Kyrgyzstan was observed in September 2021 at $3.241 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 US dollars on the market. In total, $190.74 million was purchased, and $419.850 million was sold. The net sale of US dollars on the market amounted to $229.11 million.

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