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International reserves of Kyrgyzstan grow by $ 9.13 million for month

As a result of October, Kyrgyzstan’s gross international reserves grew by $ 9.13 million. The National Bank of the country presented such data.

Following the results of 10 months of 2019, the reserves amounted to $ 2,294.86 billion. This is one of the highest rates in recent years. The level of the reserves was higher only in August 2019 — $ 2.3 billion. This is partly due to the fact that the National Bank did not intervene in the foreign exchange market in October.

Since the beginning of the year, the volume of reserves has grown by $ 139.4 million, and compared with October 2018 — by $ 186.11 million.

The National Bank uses reserves to smooth out sharp fluctuations in the foreign exchange market. In 2018, the National Bank of the Kyrgyz Republic conducted 11 interventions, having purchased $ 20,550 million and sold $ 154,550 million. Net sale of dollars in 2018 amounted to $ 134 million. Since the beginning of 2019, the National Bank has carried out only four interventions, having sold $ 86,950 million.

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