Commercial banks purchased 14% more currency than the week before

Last week, the interbank currency market in Kyrgyzstan saw high activity among participants. From 13 to 17 October, commercial banks purchased $36.3 million, which is 13.8% more than a week earlier.

The trading week started with increased demand for currency. On Monday, 13 October, the volume of transactions reached $7.6 million, a 2.6-fold increase compared to the end of the previous week (10 October, $2.9 million).

On Tuesday and Wednesday, demand fell by 39.5% and 59.2% respectively, but picked up again by the end of the week. On Friday, 17 October, the trading volume reached $11.5 million, becoming the highest figure of the week.

Most of the transactions — $21 million — were deferred settlement transactions, which indicates active planning of currency transactions by banks and stable expectations of exchange rate stability.

Throughout the week, the US dollar exchange rate remained unchanged at 87.45 KGS per dollar. The absence of fluctuations indicates a stable situation in the currency market.