Kyrgyz banks purchased more than $28 million on the interbank market in a single day

On May 12, Kyrgyzstan’s commercial banks purchased $28.1 million on the interbank foreign exchange market. These figures are based on trading statistics.

Of the total amount, $10.1 million was accounted for by same-day settlement transactions, while another $18 million was accounted for by transactions with deferred settlement. Trading took place at a rate of 87.45 KGS per dollar at both the market open and close.

Despite the absence of currency intervention by the National Bank, volumes were again significantly higher than the average for the Kyrgyz interbank market.

Earlier, “Akchabar” reported in the article “Have Major Players Emerged in Kyrgyzstan’s Interbank Currency Market?” that the market had begun to regularly record abnormally large transaction volumes even during periods when there was no intervention by the regulator.