The KGS strengthened against the euro, the tenge and the yuan, but continued to weaken against the rouble

Following a decline against all major currencies at the end of last week, the KGS has partially recovered. According to the National Bank’s official exchange rates as at 25 August, the euro, the tenge and the yuan fell in value, whilst the Russian rouble continued to rise.

The euro’s exchange rate fell most significantly — by 0.37 per cent, from 102.3777 to 101.9973 KGS. The tenge also fell by 0.37 per cent — from 0.1917 to 0.191 KGS.

The yuan fell by 0.04 per cent. Its official exchange rate fell from 13.0130 to 13.0079 KGS.

The Russian rouble, by contrast, rose by a further 0.16 per cent – from 1.0527 to 1.0544 KGS. The US dollar remained unchanged at 87.45 KGS.

It should be recalled that on 21 August, ‘Akchabar’ reported that the KGS had ended the working week weaker against all major foreign currencies. At that time, the rouble rose by 1.45% in one go. Taking this latest change into account, the Russian currency has risen by 1.61% over the course of two revisions to the official exchange rate.