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Inflow of remittances of migrants for 5 months increases up to $ 695 million

For the five months of 2017, the net inflow of remittances from migrants increased by 39.5 percent to $ 695 million, the Chairman of the National Bank Tolkunbek Abdygulov said today at a press conference.

According to him, as of today, the domestic foreign exchange market remains stable. Since the beginning of the year, the KGS has strengthened against the dollar by 0.9 percent. At the same time, with the current increase in the value of the American currency, the National Bank considers it necessary to carry out interventions, since the market has enough currency. And the situation on the interbank foreign exchange market is characterized by a sufficient level of free liquidity.

«Now a slight increase in the dollar rate is caused by depreciation of the Russian ruble against dollar and a change in oil prices. Kyrgyzstan has the floating rate of KGS. Therefore, the National Bank doesn’t need to interfere in the situation on the market," Tolkunbek Abdygulov said.