In July the gross international reserves of Kyrgyzstan grew by $26.82 million, the National Bank reported.
The republic’s gross international reserves amount to $2,271.34 billion. Compared with July 2018 they have grown by $110.69 million.
Data on the level of gross international reserves since May 2008 are available on the website of the National Bank. According to the results of July the indicator was the highest in the last 10 years.
The National Bank uses the reserves to smooth out sharp fluctuations in the foreign exchange market. In 2018 the National Bank of the Kyrgyz Republic intervened 11 times having bought $20,550 million and sold $154,550 million. Net sale of dollars in 2018 amounted to $134 million. In the first half of 2019 the National Bank sold $68.6 million in the foreign exchange market. (24.kg/Business World Magazine)
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