Kyrgyzstan's international reserves grow for second month in row

Gross international reserves of Kyrgyzstan are growing for the second month in a row. Such conclusions can be drawn from the statistics presented by the National Bank of Kyrgyzstan.

It is noted that in February, international reserves amounted to $ 1, 991.49 billion. For thirty days, they increased by $ 8.42 million.

In January, the increase in reserves amounted to $ 13.94 million despite the interventions of the National Bank in the foreign exchange market. This was caused by the rise in gold prices.

In December 2016, the international gold and foreign exchange reserves also increased — by $51.26 million. In September-November of the last year, they were only declining, having decreased by $ 107.86 million in two months.

The National Bank uses international reserves to carry out interventions on purchase or sale of dollars to avoid sharp currency exchange fluctuations. In January, the National Bank of the Kyrgyz Republic twice entered the foreign exchange market, selling $ 17,650 million. In February, the National Bank did not conduct any interventions.