Crisis has affected the interbank market: the number of transactions falls. Such conclusions can be drawn from the monetary survey of the National Bank of the Kyrgyz Republic for January-September.
The total volume of transactions in the interbank market of credit resources for the nine months has formed in the amount of 5.1 billion soms. This is 83.6 percent less than in 2015.
In September, the interbank cost of resources in the domestic market was significantly lower compared with the beginning of the year.
At the same time, in September there intensified activity on the interbank money market through repo transactions. If in July and August, there were no of them, then in September they amounted to 147.4 million soms. The share of repo transactions is the biggest on the interbank market - 70.8 percent.
Repo is a type of transaction in which the securities are sold, and at the same time there is concluded an agreement on repurchase at a predetermined price.
The interest rate on repo transactions on the interbank credit market in September was close to the lower limit of the interest rate corridor - an average of 1.76 percent.