Published
08/01/2026, 15:15July on Kyrgyzstan’s foreign exchange market was characterised by high trading volumes and a virtually stable exchange rate. According to data from the National Bank, over the course of 23 trading days, dollar transactions totalling $446.37 million were concluded on the interbank market.
Of this amount, $221.52 million was accounted for by transactions settled on the day the deal was concluded, whilst a further $224.85 million was accounted for by transactions settled on a different date. On average, turnover per trading session stood at $19.4 million.
However, almost half of the monthly volume was generated in a single day. On 14 July, transactions totalling $202.9 million were concluded, accounting for 45.5 per cent of the total July turnover.
The main reason for this surge was currency intervention by the National Bank. On that day, the regulator sold $186.4 million on the market: $24.8 million with settlement on the trade date and $161.6 million with settlement on a different date.
Consequently, the NBKR accounted for almost 92 per cent of all foreign exchange transactions carried out on 14 July. Excluding this day, the monthly volume of interbank trading would have amounted to $243.47 million, and the average daily turnover would have been around $11.1 million.
In July, the regulator intervened only once, whereas this was the ninth time since the start of the year. Taking all transactions into account, the total volume of foreign currency sold by the National Bank since the start of the year reached $1.47 billion.
Despite the fact that almost half a billion dollars passed through the market over the month, the US dollar exchange rate remained virtually unchanged. In almost all trading sessions, the dollar opened and closed at 87.45 KGS.
The only minor deviation was recorded on 3 July, when the opening rate was 87.445 KGS and the closing rate was 87.45 KGS. The difference amounted to just half a KGS, or 0.006 per cent.
