06:29
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Sharp dollar appreciation: Government keeps situation under control

The Prime Minister of Kyrgyzstan held a meeting on the situation in world markets and its impact on the economy of Kyrgyzstan.

According to the press service of the Cabinet, the situation in the foreign exchange market and in the banking sector was discussed, as well as measures taken to ensure stability of the national currency in connection with lowering oil prices and negative fluctuations in the foreign exchange markets of the countries that are the main trade and economic partners of Kyrgyzstan.

Particular attention was paid to the main risks of influence of external shocks on the economy of Kyrgyzstan and measures to stabilize the level of trade balance.

Officials told about importance of effective use of the existing tools of the National Bank of the Kyrgyz Republic to ensure stable and balanced operation of the foreign exchange market.

According to the Chairman of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov, as of today, there is a «natural» reaction of commercial banks and exchange offices to external fluctuations.

The bank has sufficient reserves to smooth out sharp fluctuations of the national currency.

Mukhammedkaly Abylgaziev stressed the need for a quick response and taking effective measures to smooth sharp fluctuations in the exchange rate of the national currency, as well as to ensure stable operation of the country’s financial and credit institutions.

He instructed to assess the impact of exchange rate differences on the international markets in order to take effective measures to ensure macroeconomic stability and maintain the level of export of domestic products abroad.

The Ministry of Economy and the State Agency for Antimonopoly Regulation have been instructed to constantly monitor the prices of essential goods and food products to prevent unjustified and speculative price increases.

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