Kyrgyzstan now has its own gold storage facility that meets international standards and can hold up to a thousand tons of gold. Previously, the state had to store its gold reserves abroad. This was announced by President Sadyr Japarov at the opening ceremony of the new building of the National Bank of the Kyrgyz Republic in Bishkek on October 28.
According to Japarov, from now on, Kyrgyzstan will be able not only to securely store its own gold reserves but also provide storage services to foreign partners.
According to the National Bank, Kyrgyzstan’s international reserves (including gold and forex reserves) have now reached $7.550 billion, the highest figure in the country’s history.
According to the World Gold Council, gold reserves in Kyrgyzstan increased by 4.68 tons in the second quarter of this year and reached 38.95 tons.
Japarov also stated that ensuring the stability of the national currency, the som, is the primary task of the National Bank. “This is a responsible mission that directly impacts the lives of every citizen and the well-being of every family. Public trust in the som is an indicator of the state’s strength,” Japarov said, adding that today, the som is recognized as one of the most stable currencies in Central Asia.
At the ceremony, officials reported that starting from November 17, Kyrgyzstan will begin domestic printing of small-denomination banknotes of 20 and 50 som. Printing of all remaining denominations is expected to begin in the middle of next year.
Currently in circulation are banknotes in denominations of 20, 50, 100, 200, 500, 1,000, 2,000, and 5,000 som.
Previously, Kyrgyz banknotes were produced in various European countries.
