Cabinet of Ministers approves concept of ban on export of foreign currency
Ban on the export of cash foreign currency by individuals was developed in accordance with the recommendations of the National Bank of Kyrgyzstan. Minister of Economy and Commerce Daniyar Amangeldiev announced today at a press conference.
According to him, it was done during a period of exchange rate volatility. The exchange rate has stabilized, but the concept of imposing the ban has been approved by the Cabinet of Ministers.
«However, adoption of the document is possible with the relevant recommendation from the National Bank. For example, if its reserves are not enough to ensure foreign exchange transactions. But we, as the Ministry of Economy, must look at this issue from two sides. Restrictions on foreign exchange transactions may lead to restrictions in trade. I am sure that the balance will be maintained. We consult with the National Bank on this issue weekly,» Daniyar Amangeldiev said.
