Kyrgyz economy received 3.8 billion soms due to the National Bank's interventions, the site of NB KR reported.
It is noted that Kyrgyzstan has a floating exchange rate regime. But interventions of the National Bank on the purchase and sale of foreign currency are conducted to maintain a stable situation on the currency market. In this case the regulator buys foreign currency for KGS.
"In March of this year, foreign currency supply on the domestic market dominated over demand. In this regard, to maintain stability in the foreign exchange market, the National Bank intervened by buying foreign currency totaling $52.95 million (March 24). Thus, the National Bank of the Kyrgyz Republic has infused 3.8 billion soms into the economy," the National Bank says.
In general, from March 1 to March 25 there is observed a moderate decline in the dollar exchange rate from 73,8888 to 71,0036 soms.