In general, the official exchange rate of the U.S. dollar to the som last year increased by 3.97 percent. Official representative of the National Bank of Kyrgyzstan Aida Karabaeva announced at a press conference.
According to her, in 2023 the dynamics of the U.S. dollar to som exchange rate were multidirectional. It ranged from 85.6 to 89.3 soms. To smooth out sharp fluctuations in the exchange rate, the National Bank conducted interventions. There were 14 of them in total for $655.7 million. Since October last year, the National Bank of the Kyrgyz Republic has not carried out interventions, because there was no need for it.
«As for expectations, we adhere to a floating exchange rate, so the exchange rate will depend on supply and demand in the domestic market and factors that may influence the exchange rate,» Aida Karabaeva stressed.
