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Kyrgyzstan's international reserves decrease by $ 48.65 million in 2018

The gross international reserves of Kyrgyzstan decreased by $ 48.65 million for 8 months of 2018 and by the end of August amounted to $ 2,127.84 billion. The National Bank of the country reported.

It is noted that the reserves decreased by $ 32.81 million for a month. This is partly due to the fact that the National Bank had to intervene and sell dollars to deter a sharp growth in the foreign exchange rate in August. At least $ 19,050 million was sold in the market.

The largest level of international reserves in 2018 was registered in January. The figure amounted to $2,220.44 billion then.

In addition to currency operations by the National Bank of the Kyrgyz Republic, other factors on the domestic foreign exchange market influence the reserves. For example, these are the 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.