The National Bank of Kyrgyzstan conducted its largest intervention since the beginning of the year, selling $222.55 million.
Meanwhile, the average exchange rate of the U.S. dollar remained unchanged at 87.8 soms per dollar.
This is the eighth intervention this year. In total, the regulator sold $1,286.2 billion during this period. It’s worth noting that over the entire last year, the National Bank intervened for $853 million.
The bank previously entered the foreign exchange market on April 16 and June 8, selling $168 million and $170.2 million, respectively. The National Bank conducts currency interventions to smooth out sharp fluctuations in the som exchange rate and maintain stability in the foreign exchange market.
