There is an excess of demand for foreign currency over its supply in the domestic foreign exchange market of Kyrgyzstan. The National Bank of Kyrgyzstan reported.
It is noted that due to the geopolitical situation in the external financial markets, there is a high volatility of the exchange rate of the countries — trade and economic partners of the Kyrgyz Republic. The republic itself has a floating exchange rate regime, within which the dynamics is determined on the basis of the balance of supply and demand for foreign currency in the domestic foreign exchange market.
«The National Bank conducts foreign exchange interventions, continuing to be present in the foreign exchange market, as it has the necessary resources and tools for adjustment. It analyzes the state of the domestic foreign exchange market and is ready to take the necessary measures to resolve the situation, using the full range of monetary policy instruments. The National Bank of the Kyrgyz Republic constantly monitors the situation in the domestic foreign exchange and external financial markets,» the central bank said in a statement.
U.S. dollar has appreciated by 13 soms, or by 14.2 percent, over the past week in Kyrgyzstan. Today, its dollar exchange rate reached 98.5 soms.
