Over the course of the week, $95.3 million was sold on Kyrgyzstan’s interbank foreign exchange market

Between 9 and 13 November, transactions involving US dollars totalling $95.3 million were concluded on Kyrgyzstan’s interbank foreign exchange market. Despite the significant trading volumes, the US dollar exchange rate remained virtually unchanged at around 87.45 KGS. This is according to data from the National Bank of the Kyrgyz Republic.

Of the total trading volume, $56.6 million was accounted for by transactions settled on the day of conclusion, whilst a further $38.7 million was accounted for by transactions settled on a different date.

The busiest day of the week was 12 November, when banks concluded transactions worth $24.2 million. Of this amount, $16.1 million was accounted for by same-day settlement transactions.

Trading volumes over the course of the week were distributed as follows:

• 9 November — $13.7 million;
• 10 November — $16.8 million;
• 11 November — $21.9 million;
• 12 November — $24.2 million;
• 13 November — $18.7 million.

Thus, by Thursday, daily trading volume had increased by almost 1.8 times compared with Monday; however, on Friday, activity fell by 22.7 per cent.

However, the rise in trading volumes was not accompanied by any significant change in the dollar exchange rate. Throughout the week, the closing rate remained at 87.45 KGS. The opening rate fluctuated within a narrow range of 87.445 to 87.45 KGS.