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Kyrgyzstan|finance|April 8, 2020 / 03:04 PM
US dollar sells for 79.7 soms in banks

AKIPRESS.COM - The U.S. dollar rate in banks in Kyrgyzstan as of 2pm April 8 ranges between 79 and 79.3 soms (buying) and 79.7 to 80.2 soms (selling).

As of 9 a.m., U.S. dollar rate in banks in Kyrgyzstan ranged from 80 to 82.3 soms (buying) and from 82.5 to 83.7 soms (selling).

On March 19 evening, the  exchange rate sharply rose from 73 soms to 85 soms per $1 in just one day.

Commercial banks said such USD exchange rate is related to the exchange rate set by the National Bank of Kyrgyzstan. The National Bank entered the market with selling rate of 84.9 soms, that's why the banks ended up with exchange rate of 85 soms per $1, the banks said.  

The National Bank said the exchange rate sharply grew because of the high demand for USD. Therefore, the regulator had to extend the automated trading session until 19:00, which usually ends around 16:00.

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