Since the beginning of the year, Kyrgyzstan’s gross international reserves have decreased by $ 12.65 million — up to $ 2,163.84 billion. The official website of the National Bank reports.
The reserves reportedly decreased by $ 14.4 million for a month. The country has the largest amount of the reserves in January 2018. This was the only month when they increased compared to December 2017. From February to June 2018, the reserves reduced by $ 56.6 million.
The National Bank notes that, in addition to foreign exchange operations, the reserves on the domestic market are affected by the revenues received from the management of international reserves and changes in the exchange rates of the currencies that make up the reserves. The state of the reserves is influenced by the change in gold prices, purchase of gold operations in the domestic market of Kyrgyzstan, payments on foreign liabilities of the country and the receipt of the foreign currency in favor of the government.
In the future, the National Bank plans to increase the share of gold in reserves from 16 to 50 percent.