In December, the National Bank of Kyrgyzstan sold 4.27 tonnes of gold from international reserves to the foreign market. Information about this to Akchabar was confirmed by the National Bank of Kyrgyzstan.
In 2023, the volume of gold in the structure of international reserves set a historical record for three months in a row. Thus, in September the volume of gold reached 675.8 thousand ounces, or 21,019 tonnes, in October to 712.1 thousand ounces, or 22,148 tonnes, and in November to 750.3 thousand ounces, or 23,336 tonnes.
However, at the end of 2023, according to the National Bank of Kyrgyzstan, gold in international reserves amounted to 21.57 tonnes.
“This change during December 2023 is associated with the transactions carried out on purchases of gold on the domestic market in the amount of 2.5 tonnes and sales of gold on the foreign market in the amount of 4.27 tonnes,” the National Bank of Kyrgyzstan told.
The National Bank emphasised that the purchase and sale of gold are standard operations for managing international reserves. This is done in order to timely and promptly replenish the liquid part of international reserves used to implement the appropriate monetary policy, as well as make payments to the Cabinet of Ministers in foreign currency.
Thus, at the end of 2023, according to the World Gold Council, Kyrgyzstan was in fourth place among the Central Asian countries in terms of the volume of gold in international reserves, after Afghanistan, but above Tajikistan.
Reported by Akchabar (Kyrgyzstan).
