Bishkek, Mar.11, 2020. /Kabar/. The situation on the currency market remains moderately stable, the press service of the Ministry of Health of Kyrgyzstan said on Wednesday.
Change in the U.S. dollar rate was expected. There was a volatility of the exchange rate in the Eurasian Economic Union (EAEU) member states, which may affect the country's indicators through trade and financial channels.
Russia influences the Kyrgyz economy through mutual trade and money transfer channels. However, at present, there is an even and parallel change in the exchange rate of US dollars in all EAEU member states, so there is no reason for panic and excitement.
At present, the country is provided with sufficient volume of foodstuffs and goods, prices in the domestic market are daily tracked and monitored, no sharp leaps are observed, there is only a characteristic seasonal increase in prices before a new harvest for some foodstuffs.
Due to the fact that the bulk of food products are imported from Russia, Kazakhstan and Belarus, the strengthening of US dollars will not have a significant impact on the cost of goods supplied from these countries.
The Government and the National Bank continuously monitor and assess the economic situation in the domestic and external environment. In case of any fluctuations, the Bank has sufficient monetary instruments and reserves to respond promptly and mitigate the situation in the country.
On Mar.10, 2020, in order to mitigate the negative impact of external shocks on the country's economy and to ensure price stability and financial stability, the regulator carried out foreign exchange intervention in the amount of $ 53.7 million (of which $4.0 million in cash).
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