Kyrgyzstan's international reserves declining for the 2nd month in a row
At the end of May 2019, the gross international reserves of Kyrgyzstan decreased by $ 9.05 million. The National Bank of Kyrgyzstan reported.
The gross international reserves of the republic amount to $ 2,171.04 billion. Compared with May 2018, they reduced by $ 7.2 million.
Over the past two years, the highest level of reserves was registered in January 2018 — $ 2,220.44 billion.
The National Bank uses the reserves to smooth out sharp fluctuations in the foreign exchange market. In 2018, the National Bank of the Kyrgyz Republic has intervened 11 times, having bought $ 20,550,000 and sold $ 154,550,000. Net sale of dollars in 2018 amounted to $ 134 million.
The decline in reserves is partly due to the fact that the National Bank conducted the largest intervention on the last day of May 2019, having sold $ 27 million.
