Domestic foreign exchange market in Kyrgyzstan remains stable

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Bishkek, Sept. 26, 2017. /Kabar/. The domestic foreign exchange market in Kyrgyzstan remains stable, Nurbek Zhenish, deputy chairman of the National Bank of the Kyrgyz Republic, said at a press conference at Kabar News Agency.

He said that since early 2017, the national currency has strengthened by 1.1%. In September 2017, the National Bank did not participate in the domestic foreign exchange market.

"Monetary conditions continue to support measures to stimulate the real sector of the economy. The country's banking system has a sufficient level of excessive liquidation in the national currency. Short-term money market rates in national currency continue to fluctuate within the percentage corridor set by the National Bank," said Zhenish.

According to current forecasts of the National Bank, taking into account the ongoing recovery of domestic demand, balanced forecasts for production in the agricultural sector of the country and price dynamics in international commodity markets, the inflation rate in the coming period will approach the medium-term target at 5-7%.

In these conditions, as well as in the absence of external and internal inflationary risks, this level of the National Bank's discount rate will further support the measures to stimulate the economy.

The National Bank regularly assesses external and internal factors influencing inflation, and depending on the economic situation, it will take appropriate measures of monetary policy.


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