Kyrgyz National Bank sells $143.45 mln to maintain national currency’s rate

Bishkek, Jan.21, 2020. /Kabar/. In 2019, the National Bank of Kyrgyzstan sold $143.45 million to maintain the rate of national currency, som (KGS), Chairman of the National Bank Tolkunbek Abdygulov told reporters.

According to Abdygulov’s data, in general, there was a stable situation at the currency market: exchange market fell by 0.3%, and made KGS 69.6439 for the year.

"Net sales amounted to $143.45 million," he said.

In addition, Abdygulov noted that in 2019 the increase was registered in international reserves.

"As of Dec.31, 2019 the volume of international reserves amounted to $2,424.1 million, having increased by $268.6 million or 12.5% since the beginning of 2019, which, according to the estimates of the National Bank, covers 5 months of the future volume of imports of goods and services," he added, and stressed that the international reserves have reached their historical minimum.

Besides, Tolkunbek Abdygulov said the monetary base had been gradually expanding, having increased by 11.0% or KGS 6.3 billion for the year, amounting to KGS 118.1 billion.