National Bank assesses situation on foreign exchange market as stable
At the moment, the situation on the domestic foreign exchange market remains relatively stable. The National Bank of Kyrgyzstan reported.
The central bank noted that when conducting foreign exchange policy, it adheres to a floating exchange rate regime. It involves setting the exchange rate based on supply and demand for foreign currency. The National Bank constantly monitors the situation developing in the domestic foreign exchange market and external financial markets.
A meeting with representatives of the management of commercial banks of the republic was held today at the National Bank of the Kyrgyz Republic, chaired by the Deputy Chairman of the National Bank Kaiyp Kulenbekov. The parties exchanged views on the current situation in the foreign exchange market.
It was noted that changes in the financial markets of the countries that are the main trading partners of Kyrgyzstan will have a limited impact on the domestic foreign exchange market.
«This is due to the fact that the banking sector of Kyrgyzstan has sufficient resources to maintain the stability of the financial sector. The National Bank, if necessary, will take appropriate measures in accordance with the ongoing monetary policy to maintain a stable situation in the foreign exchange market,» the National Bank of the Kyrgyz Republic concluded.
The United States included Moscow Exchange in the sanctions list. It suspended trading in dollars and euros. The possibility of introduction of secondary sanctions against foreign banks operating in Russia was also announced.
