Kyrgyz foreign reserves down by 9.16% y/y in 2015

Kyrgyz foreign reserves down by 9.16% y/y in 2015
The reserves were down due to a combination of factors, including regular interventions by the central bank to support the Kyrgyz som.
By bne IntelliNews February 17, 2016

Kyrgyzstan’s gross foreign reserves fell to $1,778.3mn in 2015, down by 9.16% y/y, according to latest figures by the National Bank of Kyrgyzstan.

The reserves were down due to a combination of factors, including regular interventions by the central bank to support the Kyrgyz som, which has been on a rollercoaster in 2015, depreciating by 28.87% y/y against the greenback. In an effort to shore up the national currency, the central bank sold $330.5mn in 2015 and $536.7mn in 2014, according to the bank’s latest figures.

Kyrgyzstan’s monetary base increased by 4% y/y to KGS67,055mn (€402.3mn) at the end of 2015, according to the figures. At the same time, M2 money supply (monetary base plus savings and term deposits) amounted to KGS143,143mn at the end of the year, up from KGS124,544mn at end-2014.

Total outstanding loans issued by Kyrgyz commercial banks grew to KGS93,954mn at the end of 2015, up by 19.3% y/y, the figures show.

Total bank deposits in Kyrgyzstan stood at KGS102,878mn at end-2015, up from KGS82,535mn at end-2014, according to the figures. Deposits in foreign currency stood at KGS67,494mn at end-2015, while deposits in the local currency amounted to KGS35,384mn, the figures show.

Data

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss