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Kyrgyz National Bank Intervened to Stabilize Currency

Monday 9 November 2015

BISHKEK (24.kg news agency) — The National Bank of Kyrgyzstan Intervened to stabilize the rate of the som, the official website of the regulator reported by selling $21.75 mln.

This is the first intervention of the National Bank at the currency market in the past month. However, there is no effect of the intervention. Today, the exchange offices of the capital buy the dollar at 71.2 soms, sell — 71.8. For two days the dollar has risen by 30 tyiyn. At the same time the nominal exchange rate is also at a high mark of 70.38 soms (+0.54%). The exchange rate of tenge and ruble remain at the same level — 0.22-0.23 and 1.09-1.1 soms respectively.

Since the beginning of the month the dollar rose by 1.8 soms. Since the beginning of the year the US currency in Kyrgyzstan increased by 17.4%. National Bank of Kyrgyzstan intervened 19 times at the currency market to stabilize the exchange rate.

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