Som rate will be adjusted within few days - National Bank

Bishkek, Mar.20, 2020./Kabar/.Within a few days, the national currency rate will be adjusted, Chairman of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov said at the briefing. He commented today commercial banks have stopped buying dollars due to the lack of soms. In this regard, he noted today many have accumulated dollars. "They thought that it was possible to sell more expensive. This is a system of supply and demand. The current situation shows that the market is not balanced. The situation was built on expectations. Yesterday, the equilibrium rate was KGS 85," Abdygulov said, and added the current correction is natural. He urged not to give in to the psychological fact, but to better monitor the National Bank's reserves. Abdygulov drew attention to the fact that the National Bank has reserves of $2.3 billion. "If someone has problems, we can do the reverse intervention and buy up dollars," added Abdygulov. Yesterday, Mar.20 the dollar/som exchange rate again rose in Kyrgyzstan. Thus, in commercial banks, as Kyrgyzstan Bank, a ddollar was sold at KGS 85 and a purchase at KGS 73. At a Bakai Bank, a dollar costs KGS 73 and a sale at KGS 85. Some banks did not sell dollars at all. The dollar exchange rate has risen in exchange offices too.