Bishkek, Feb. 24, 2021. / Kabar /. The domestic currency market of Kyrgyzstan is relatively stable, the National Bank of the republic said on Wednesday.
An increase in demand for foreign currency was observed in some periods amid the influence of foreign economic conditions. The National Bank participates in the foreign exchange market to smooth sharp fluctuations in the exchange rate.
Gradual recovery of economies of trade partner countries is expected, which will contribute to increase of economic activity in the republic in order to ensure external demand in the medium term.
“Meanwhile, the increase in prices on world commodity markets determines the preservation of consumer price increase in the Kyrgyz Republic in the near future. Taking into account prerequisites for development of the external environment and internal economic conditions, the National Bank decided to increase the discount rate to 5.5%. In case of any risks, the Bank does not exclude the possibility of making additional adjustments to the ongoing monetary policy,” the report says.
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