The National Bank will not reinstate restrictions on tenge transactions until autumn

The National Bank of Kyrgyzstan has extended the suspension of restrictions on transactions with the Kazakh tenge until September 15, 2026. This means that banks and exchange offices will continue to work with the tenge without the strict anti-crisis measures introduced in 2022.

Recall that in the spring of 2022, amid instability in the currency market, the National Bank introduced a number of restrictions:

▪️ banks and exchange offices could set the tenge purchase rate no higher than 70% of the official rate set by the National Bank;

▪️ banks and microfinance companies were subject to a strict limit on their open currency position in tenge — no more than 1% of their capital.

These measures were aimed at reducing currency risks and protecting the domestic market.

These restrictions remain suspended at present. This means that:

• banks are free to buy and sell tenge;

• the exchange rate is determined by market conditions;

• no additional limits are imposed on this currency.

The extension of the suspension indicates that the regulator sees no need to reinstate emergency measures and assesses the situation on the currency market as stable.