MP asks if central bank's interventions make a difference

AKIPRESS.COM - MP Ainura Osmonova asked November 17 about the measures taken by the National Bank to curb the sharp USD rate rise in Kyrgyzstan. Chairman of the National Bank Tolkunbek Abdygulov said that the National Bank uses all its tools to prevent a sharp rise in currency, for example, interventions into forex market. Since the beginning of November, the regulator sold USD twice.
Since the beginning of the year, the National Bank made interventions totaling 422 billion soms.
The MP asked if there are any results from the interventions. Abdygulov responded that the official rate today is 84.6 soms per $1.
"There is no deficit of the dollar, there's enough of USD in the market," Abdygulov said.
Osmonova asked what measures will be taken in banks in relation to those who borrowed loans in USD because of the sharp rise in the exchange rate.
Abdygulov said that this is a currency risk, and the private individuals decide on currencies of borrowings on their own.