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Number of National Bank’s interventions almost halved in 2018

In 2018, the National Bank of Kyrgyzstan almost halved its participation in foreign exchange trading. Report of the National Bank of the Kyrgyz Republic for the year says.

Stability was reportedly ensured in the foreign exchange market in 2018, which contributed to maintaining financial stability in the economy.

Over the year, the exchange rate of the U.S. dollar grew by 1.5 percent and amounted to 69.85 soms.

The number of interventions to prevent sharp fluctuations in the exchange rate almost halved — 11 in 2018 compared to 21 in 2017. The bulk of interventions occurred during periods when changes and imbalances took place in world economic policy. For example, these are temporary closure of borders with Kazakhstan, introduction of sanctions against Russia by USA, during the active phase of «trade war» with China, and the tightening of the policy of the U.S. Federal Reserve System.

The report of the National Bank on the results of its work in 2018 was heard in the Parliament the day before. Following the discussion, the report was found satisfactory.

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