National Bank sells dollars on market for the first time in eight months
The National Bank of Kyrgyzstan entered the foreign exchange market with intervention for the first time since June. It conducted a record intervention on sale of dollars.
The central bank sold $3.5 million with settlements on the date of the transaction and $51.7 million — with settlements different from the date of the transaction. The last time the bank sold the U.S. currency was in March 2022.
The reason for the intervention was a sharp appreciation of the dollar. The day before, its exchange rate grew by 50 tyiyns — 1 som at once. But even with such a rate it was almost impossible to buy the currency in most exchange offices and banks. The intervention stabilized the situation on the foreign exchange market. The appreciation has stopped.
