US dollar falls. National Bank withdraws currency from market

The National Bank of Kyrgyzstan for the fourth time in a month entered the foreign exchange market with intervention because of the falling dollar exchange rate. The bank continues to withdraw the currency from the market.

Last week, the National Bank bought dollars twice. At the beginning of the week, it bought $13,950,000. It did not stop the fall of the US currency. By July 21, the bank was again forced to enter the foreign exchange market with intervention. This time, $ 2.6 million was purchased with calculations on the date of the transaction and $ 1,750,000 — with calculations other than the date of the transaction. Thus, over a week, it withdrew $ 18.3 million from the market.

However, this time, the measures taken did not stop the fall of the dollar. The American currency continues to lose ground. Today, the capital’s exchange offices and commercial banks buy the dollar for 68.2–68.3 soms, and sell — for 68.5–68.7. Since the beginning of the month, it has fallen in price by 1 som. The nominal rate is set at 68,3049 soms (a day’s fall is 0.79 percent).