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National Bank of Kyrgyzstan intervenes selling $ 27 million

The National Bank of Kyrgyzstan intervened in the foreign exchange market for the first time in two months. Official website of the bank says.

It totally sold $ 17.1 million with the settlements on the date of the transaction and $ 9.9 million — with settlements that are different from the date of the transaction. This is the third and the largest intervention of the National Bank since the beginning of the year.

At least $ 68.6 million have been totally sold for January — May 2019 in the foreign exchange market.

The National Bank of the Kyrgyz Republic uses gold and foreign currency reserves to smooth out sharp fluctuations in the foreign exchange market. In total, the bank has intervened 11 times in 2018, buying $20,550 million and selling $ 154,550 million. Net sale of dollars since the beginning of last year amounted to $ 134 million. In January 2019, the bank entered the foreign exchange market only once, selling $ 18.8 million.