Situation in the foreign exchange market of Kyrgyzstan remains relatively stable to date. The National Bank of Kyrgyzstan reports.

From the beginning of 2022 to April 6, the official exchange rate of the U.S. dollar against the som increased by 1.06 percent, from 84.8 to 85.7 soms. At the same time, within the framework of the current policy of a floating exchange rate, the exchange rate of the U.S. dollar to the som is formed freely in the domestic foreign exchange market, depending on the demand and supply of the foreign currency.

«There is an excess of demand for foreign currency over its supply in the domestic foreign exchange market. It is caused to a greater extent by psychological factors and expectations of market participants. The National Bank constantly monitors the situation in the domestic foreign exchange market and in external financial markets, including the situation in the countries — main trading partners of Kyrgyzstan,» the National Bank of the Kyrgyz Republic stressed.

If necessary, to smooth out sharp fluctuations in the foreign exchange rate and maintain a stable situation in the foreign exchange market, the National Bank can intervene promptly and take appropriate measures, since it has sufficient resources and monetary policy instruments.

The volume of international reserves of the National Bank as of April 5, 2022 is $2,626 billion and covers about six months of the future volume of imports of goods and services of the country. At the same time, from the beginning of 2022 to April 5, the National Bank conducted five interventions to sell foreign currency in the amount of $284.3 million and two interventions to buy U.S. dollars for $19.9 million. As a result, net sales reached $264.4 million.