BAKU, Azerbaijan, February 17. Kyrgyzstan’s commercial banks bought $700,000 in the interbank currency auction held on February 16, Trend reports with reference to the National Bank of Kyrgyzstan.
All transactions were made with settlements on the date of conclusion, with the US dollar rate at 87.42 soms.
The demand for foreign currency dropped after the National Bank of Kyrgyzstan sold $35.6 million entering the foreign exchange market with intervention on February 15.
From February 6 through February 10, the commercial banks of Kyrgyzstan bought $70.3 million in the interbank foreign exchange market.
Last week, the largest share of 67 percent of the currency was purchased by commercial banks on February 6, when the National Bank entered the foreign exchange market with an intervention, selling $47.1 million. It was the second intervention of this year.
In total, Kyrgyz National Bank conducted 4 currency interventions since the beginning of 2023.
The first intervention by the bank in 2023 was carried out on January 10, during which the National Bank sold $104.2 million in the foreign exchange market. During the third intervention, the bank sold $40.2 million in the foreign exchange market on February 13.