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International reserves of Kyrgyzstan grow by $70.02 million for month

As a result of May 2023, the gross international reserves of Kyrgyzstan reached $2,408.21 billion. Website of the National Bank of Kyrgyzstan reported.

Over the past month, the gross international reserves increased by $70.02 million. Compared to May 2022, they decreased by $179.09 million, and since the beginning of the year — by $389.88 million. The highest level of the reserves was registered in September 2021 — $3,241.14 billion.

The National Bank uses the reserves to smooth out sharp fluctuations in the foreign exchange market. Since the beginning of the year, the National Bank of the Kyrgyz Republic has conducted nine interventions selling dollars for a total of $502,540 million.

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