17:04
USD 84.73
EUR 100.69
RUB 1.16

U.S. dollar growth: National Bank considers situation as relatively stable

At present, the situation in the country’s foreign exchange market is relatively stable. Press service of the National Bank of Kyrgyzstan informed 24.kg news agency.

Amid the floating exchange rate, fluctuations are a natural phenomenon and are associated with market conditions. The supply and demand for currency are the market forces that move the exchange rate in one direction or another.

«At some point, depending on the current situation in the foreign exchange market, the exchange rate can rise and fall. Therefore, when the exchange rate rises, this is due to the predominance of the amount of currency that people want and are willing to buy in the domestic foreign exchange market, and vice versa. The need for foreign exchange interventions will depend on the situation,» the bank stressed.

«The National Bank constantly monitors the situation in the domestic foreign exchange and external financial markets and, if necessary, can carry out appropriate operations, including foreign exchange interventions,» the National Bank concluded.

Over the past two weeks, the dollar in Kyrgyzstan grew by 5 soms and reached 83 soms.

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