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National Bank to smooth out sharp fluctuations in exchange rate in 2020

Actions of the National Bank of Kyrgyzstan in the domestic foreign exchange market will be aimed at smoothing out sharp fluctuations in the exchange rate. Statement about monetary policy of the bank for 2020 says.

The document notes that an important condition for effective influence of monetary policy on the economy is a floating exchange rate. Therefore, the National Bank follows the floating exchange rate regime adopted by Kyrgyzstan, which is formed through market mechanisms based on supply and demand.

«The National Bank will continue to assess the risks and consequences of the possible impact of external factors on the domestic foreign exchange market. If external risks intensify, the National Bank will take the necessary monetary policy measures to mitigate possible negative consequences,» the statement says.