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Kyrgyzstan’s international reserves decline for the first time in 5 months

Kyrgyzstan’s gross international reserves declined for the first time in five months. The National Bank of the country provided such data.

In February 2020, the reserves amounted to $ 2,374.05 billion. This is $ 57.83 million less than a month earlier. This is due to the fact that the National Bank conducted two interventions in February, selling $ 55.5 million in the foreign exchange market. Compared to February 2019, the figure grew by 193.56 million.

The National Bank uses the reserves to smooth out sharp fluctuations in the foreign exchange market. In 2019, the National Bank of the Kyrgyz Republic conducted a total of six interventions, selling dollars. In total, $143,450 million have been sold in the foreign exchange market.