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Share of gold in gold and forex reserves of Kyrgyzstan growing

The share of gold in the structure of gold and forex reserves of Kyrgyzstan increased to 16.9 percent in September 2018. Ranking of the World Gold Council says.

Recall, the World Gold Council ranks 100 largest countries — holders of gold reserves. It is noted Kyrgyzstan occupies the 71st place with reserves of 9.5 tons of gold in the new ranking.

Over the month, the share of gold in the structure of reserves increased by 0.2 percent or 300 kilograms.

According to the report, the nearest neighbors of Kyrgyzstan have much more gold in reserves. So, in Tajikistan gold accounts for 61 percent of reserves (20 tons), Belarus — 27 percent (47 tons), Kazakhstan — 41 percent (326 tons), Russia — 17 percent (1,999 tons).

There is no data on Armenia, Turkmenistan and Uzbekistan.

By the end of September, the gross international reserves of Kyrgyzstan, including gold, fell by $ 85.85 million. This is partly due to the interventions of the National Bank because of sharp fluctuations of the dollar exchange rate in the foreign exchange market.