Population confidence in the banking system continues to grow. The deposit base of the banking system has increased by 32 percent over the first ten months of this year. Deputy Chairman of the National Bank Azat Kozubekov reported.
The growth of deposits indicates a high level of trust in the banking sector and continuing savings preferences among citizens and businesses.
The foreign exchange market also remains stable. The floating exchange rate regime provides flexibility in the formation of the rate, which is determined by the market balance of supply and demand for foreign currency. Seasonal factors remain the main driver of fluctuations.
The National Bank, in turn, continues to conduct foreign exchange interventions solely to smooth out sharp fluctuations in the exchange rate. As of November 25, 2024, the volume of net sales of foreign currency amounted to $113 million.
Recall, the National Bank of the Kyrgyz Republic kept the discount rate at 9 percent, and the loan portfolio of commercial banks amounted to 314 billion soms.
