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Tolkunbek Abdygulov: National Bank buys dollars, because nobody else does

29/03/16 07:49, Bishkek – 24.kg news agency, by Tatyana KUDRYAVTSEVA

"National Bank buys dollars, because nobody else does," its chairman Tolkunbek Abdygulov said today at a press conference.

According to him, revival in the economy of Kyrgyzstan begins in spring. This is connected with the spring field works. Farmers need money for plowing, seeding, watering. Exactly KGS are needed. Therefore, there is a need in the national currency.

"Businesses need som cash. In this regard,  people began exchanging their foreign currency deposits into soms. Many experts say that the National Bank shouldn't buy dollars, but this is a common monetary transaction. We buy only the surplus. Let's say you decide to change $100 into soms to pay for some work. But if no one buys dollars, how will you do this? In this situation, the Central Bank has to intervene and deliver KGS to the market," Tolkunbek Abdygulov said.


URL: http://eng.24.kg/economics/179870-news24.html
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Exchange rate from 4 February
National Bank of Kyrgyz Republic
USD 69.4463
EUR 74.6131
RUB 1.1708
KZT 0.2156
UZS 0.0212
Weighted average exchange rate of som on February 3
USD 69.4300


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05.02.2017
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Talas
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Jalal-Abad
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Osh
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«When we ran in the elections, we said that would even get the moon and the sun from the sky ».
MP Kamchybek Joldoshbayev at a meeting of Parliament, February 2, 2017.

«What have you done besides sale of donkeys to China?».
Deputy Ryskeldi Mombekov to the head of State Inspectorate for Veterinary and Phytosanitary Safety Kalysbek Zhumakanov at a meeting of Parliament, February 1, 2017.
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