Turnover on the interbank foreign exchange market fell by 19 per cent over the week

Between 24 and 28 August, dollar-denominated transactions totalling $47.55 million were concluded on Kyrgyzstan’s interbank foreign exchange market. Compared with the previous week, the trading volume fell by $11.28 million, or 19.2 per cent.

The bulk of the transactions – $36.3 million – consisted of same-day settlement deals. A further $11.25 million comprised transactions settled on a different date.

The previous week, from 17 to 21 August, the total trading volume reached $58.83 million. Of this, same-day settlement transactions amounted to $38.53 million, whilst transactions settled on a different date totalled $20.3 million.

Thus, the decline in weekly turnover was primarily due to the second type of transaction. Their volume fell by $9.05 million, or 44.6 per cent. Transactions settled on the day of conclusion fell by only 5.8 per cent.

The busiest day of the week was Monday, 24 August, when trading volume reached $20.85 million. This accounted for almost 44 per cent of the total weekly turnover.

Activity declined steadily over the following days. On 25 August, banks concluded transactions worth $9.3 million; on 26 August, $6.2 million; on 27 August, $5.9 million; and on 28 August, $5.3 million.

Meanwhile, the dollar exchange rate on the interbank market remained unchanged throughout the week. Each trading day opened and closed at 87.45 KGS per dollar.

The average daily turnover in interbank foreign exchange trading for the week stood at $9.51 million, compared with $11.77 million the previous week.