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Sooronbai Jeenbekov told about fluctuations in som's exchange rate

The President Sooronbai Jeenbekov received the head of the National Bank of Kyrgyzstan Kubanychbek Kulmatov. Information Policy Department of the President’s Office reported.

During the meeting, the head of state was told about the ongoing work and measures to smooth out the sharp fluctuations in the exchange rate of som, ensure the security of the banking and payment systems and efforts to curb inflation.

Kubanychbek Kulmatov reported to the President that the National Bank proceeds to the third stage of the implementation of the program on the transfer to non-cash settlement.

As he said, almost all state and municipal bodies have switched to system on transfer of wages on bank cards. There are certain difficulties with cashing out and paying for services in the regions.

President Sooronbai Jeenbekov has reportedly stressed the need to step up efforts to assist the country’s long-term economic growth and business activity by providing the credit market with «long term money» and reducing the cost of resources.

At the same time, he noted the need to create conditions for the introduction of new technologies in banking, as well as the development of infrastructure in remote regions of the country in order to increase the share of non-cash settlements. He also instructed to increase the volume of loans to the processing industry.

The head of state stressed that the situation in the domestic foreign exchange market should be carefully monitored in order to exclude speculation and sharp fluctuations in the exchange rate of the national currency and take adequate measures to curb inflation, the press service noted.