Ulan Sarbanov, Chairman of the National Bank of the Kyrgyz Republic reported that the situation in the money market is stable and under control of the NBKR. Dollar-som exchange rate fluctuations of March 17-19 and the last couple days are short term and speculative in nature. There are no particular reasons to trigger instability. The economy has been on the rise in the first quarter of 2003: export has gone up by 10% and import – down by 1% with inflation rate of 2%.
According to U.Sarbanov, national currency is growing more competitive. Euro and Japanese yen are strong at this time.
KNNA “Kabar”, April 10, 2003