National Bank's international reserves grow by 47 percent in 2024
As of October 25, 2024, the volume of net purchases by the National Bank of Kyrgyzstan amounted to $110.3 million. Deputy Head of the National Bank of the Kyrgyz Republic Azat Kozubekov announced at a press conference in Bishkek.
In certain periods, the country’s central bank conducted currency interventions both to sell and purchase foreign currency in order to smooth the exchange rate, he said. Thus, as of October 25, since the beginning of the current year, the volume of net purchases of foreign currency amounted to $110.3 million.
Azat Kozubekov also added that the National Bank’s international reserves continue to grow. As of October 24, their volume amounted to $4.8 billion, having increased by 47 percent since the beginning of 2024.
Recall, the National Bank of the Kyrgyz Republic kept the discount rate at 9 percent. The loan portfolio and deposit base of the banking system amounted to 301 billion soms and 555 billion soms, respectively.
- The international reserves of the National Bank are the reserves of financial assets in foreign currency and other liquid assets, which it accumulates to ensure the stability of the national economy.
