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National Bank reserves in Kyrgyzstan to be enough for 3.9 months to cover import

As of June 5, the gross volume of international reserves is $ 2,183.2 billion. The National Bank informed 24.kg news agency.

According to its data, the reserves increased since the beginning of the year by $ 6.8 million, or by 0.3 percent. Moreover, in addition to foreign exchange operations by the National Bank of the Kyrgyz Republic, other factors on the domestic foreign exchange market influence the reserves. For example, revenues from international reserves management, changes in exchange rates of the reserves, changes in gold prices, purchases of gold on the domestic market of Kyrgyzstan, payments on external liabilities of the country and the receipt of foreign currency in favor of the government.

«There are various criteria for assessing the adequacy of the volume of reserves in the world practice. One of them is the coverage ratio of imports of goods and services. It is optimal to keep the international reserves at the level expressed in the ability of the country to pay the cost of three months of future imports of goods and services. According to the results of the first quarter of 2018, this indicator in Kyrgyzstan exceeds this rate and is about 3.9 months,» the National Bank commented.

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