Depreciating dollar forces National Bank to intervene

Depreciating U.S. dollar forced the National Bank to enter the foreign exchange market with intervention. Official website of the bank reported.

The day before, the National Bank of the Kyrgyz Republic bought dollars for the first time this year. In total, it purchased $ 7,650 million with settlements on the date of the transaction and $ 7.4 million with settlements other than the date of the transaction. Thus, the National Bank withdrew from the foreign exchange market $ 15,050 million.

U.S. dollar in Kyrgyzstan is getting cheaper since the beginning of the month. Only in the last two weeks, it lost 1.2 soms in price. At the same time, the conducted intervention did not improve the situation, the dollar exchange rate remains low. Today, the capital’s exchange offices and commercial banks buy the dollar for 68-68.3 soms, and sell — for 68.35-68.5. The nominal rate is set at 68.39 soms (a drop for a day — 0.01 percent).