Gross international reserves of Kyrgyzstan are growing for the second month in a row. Such conclusions can be drawn from the statistics presented by the National Bank of Kyrgyzstan.
In February international reserves amounted to $1,991.49 billion.
In January, the increase in reserves amounted to $13.94 million despite the interventions of the National Bank on the foreign exchange market. This was caused by the rise in gold prices.
In December 2016, the international gold and foreign exchange reserves also increased – by $51.26 million. In September-November 2016, they were only declining, having decreased by $107.86 million.
The National Bank uses international reserves to carry out interventions on purchase or sale of dollars to avoid sharp currency exchange fluctuations. In January the National Bank of the Kyrgyz Republic twice entered the foreign exchange market, selling $17,650 million. In February the National Bank did not conduct any interventions. (24.kg/Business World Magazine)
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