Reserves of Kyrgyzstan's National Bank amount to USD 2 bln 740 mln: chairman

2021-02-13 03:23:48

(MENAFN- Trend News Agency) As of today, reserves of the National Bank of Kyrgyzstan amount to $2 billion 740 million, Chairman of the Bank Tolkunbek Abdygulov said in live broadcast on Birinchi Radio of the Public TV and Radio Broadcasting Corporation, Trend reports citing Kabar .

He replied to public concerns on reasons of spending by the National Bank money from the reserves and carrying out interventions.

"If we don't sell dollars, then the rate can go up to KGS 300-400 per dollar. The main goal of the National Bank is to maintain the stability of the som," he said.

Abdygulov noted that earlier, neighboring countries such as Kazakhstan and Russia had a fixed rate, but 4 years ago these countries went into free float because their reserves were not able to withstand.

The head of the National Bank added only about 10 countries worldwide have a fixed exchange rate, usually these are rich countries such as Qatar, Kuwait.

MENAFN13022021000187011040ID1101596815

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.