National Bank of Kyrgyzstan sells $60 million to maintain som rate

The National Bank of Kyrgyzstan intervened in the country's foreign exchange market, selling almost $60 million.

Report informs via the Kyrgyz media that the regulator adheres to the following policy: in the event of a significant increase in the dollar exchange rate in the country, it sells American currency on the local market to support the Kyrgyz som. Otherwise, it buys dollars.

During the year, sales were made 7 times, and a total of $330 million was sold.

Now in Kyrgyzstan one dollar is traded at around 84.5-85.5 soms.

($1=11,333.55 KGS)