Kyrgyzstan has lost almost a tenth of its financial buffer in the space of a month

Kyrgyzstan’s international reserves fell significantly by the end of June. Their gross value decreased by $826.6 million, or 9.4 per cent, over the month, standing at $7 billion 923.05 million.

At the end of May, reserves were estimated at $8 billion 749.65 million. Consequently, the country’s financial buffer lost almost a tenth of its value in a single month.

A similar trend was observed in liquid reserves — assets that can be rapidly deployed for foreign exchange transactions and to meet external obligations. Their volume fell from $8,674.65 million to $7,847.6 million. The reduction amounted to $827.05 million, or 9.5 per cent.

The decline in June continued the pullback from the record highs seen at the start of the year. In January, Kyrgyzstan’s gross reserves exceeded $10.17 billion. By the end of the first half of the year, they had fallen by $2.25 billion, or 22.1 per cent.

At the same time, the price of gold – one of the key reserve assets held by central banks – fell. According to the World Bank, its average price on the global market fell from $4,587 per troy ounce in May to $4,228 in June. Over the month, gold lost 7.8 per cent of its value. In some trading sessions in early June, prices exceeded $4,500 per ounce, but by the end of the month they had fallen to around $4,000.

Despite the decline in June, Kyrgyzstan’s financial buffer remains significantly larger than it was a year ago. In June 2025, gross reserves stood at $6,508.42 million. Over the course of the year, they increased by $1.4 billion, or 21.7 per cent.

Gold on the global market also remains substantially more expensive than last year’s levels. In June 2025, its average monthly price stood at $3,353 per ounce, whereas in June 2026 it was $4,228. The annual increase reached $875, or 26.1 per cent.