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International reserves of Kyrgyzstan decrease by $ 70 million for two months

Over the past two months, Kyrgyzstan’s gross international reserves have decreased by $ 70,003,000. The National Bank of the country provided such data.

As a result of March 2020, the reserves amounted to $ 2,361.85 billion. This is $ 32.21 million less than a month earlier. This is due to the fact that the National Bank conducted four interventions in March, having sold $ 109.7 million in the foreign exchange market.

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 on sale of dollars. In total, $ 143,450 million have been sold in the foreign exchange market. Since the beginning of 2020, the National Bank of the Kyrgyz Republic has sold $ 210.4 million in the market.