From 2011 to 2018, the National Bank of Kyrgyzstan has bought monetary gold in the amount of 19.4 billion soms on the domestic market, the press service of the bank reported.
To replenish the international reserves at the expense of domestic sources, in 2011 the National Bank resumed the purchase of gold on the domestic market for the national currency. In 2018, the bank bought the precious metal for 10.3 billion soms.
“The National Bank manages and will manage international reserves (including U.S. dollars and gold) of the country in accordance with the Law on the National Bank of the Kyrgyz Republic, Banks and Banking Activities, as well as the investment policy for managing international reserves, which is annually approved by the resolution of the Board of the National bank. The document determines the goals, principles and limitations of the National Bank in the sphere of management of international reserves,” the press service stressed. (24.kg/Business World Magazine)