KGS is stable. Devaluation of Uzbekistani sum does not affect situation

The devaluation of Uzbekistani sum hasn’t affected the situation on the currency market of Kyrgyzstan. The KGS remains stable, Deputy Chairman of the National Bank Nurbek Zhenish stated at a press conference today.

According to him, the National Bank keeps watching the developments. However, the analysis showed that the decision of the authorities of the neighboring country to let the sum float freely didn’t affect the trade with Kyrgyzstan.

«Earlier, Uzbekistan had two exchange rates — official and black market one. The population of the border regions when trading with each other used dollars at the rate of the black market. After the devaluation of Uzbekistani sum, the official exchange rate became equal to the market rate. So we don’t see the likelihood of a sharp jump in the national currency exchange rate,» Nurbek Zhenish concluded.