In the interbank foreign exchange market of Kyrgyzstan in the period from February 24 to 28, there was a decrease in trading activity compared to the previous week (February 17-21). The average exchange rate of the U.S. dollar at the trades remained at the level of 87.45 KGS.

Last week the total volume of trades amounted to $41.79 mln, which is 26.17% lower than in the previous week (February 17-21). The highest activity of trading operations was recorded on February 25 and 26, when the volume of transactions reached $9.95 mln and $11.8 mln, respectively.

For comparison, during the period of February 17-21 the total volume of trades amounted to $56.6 mln, and the most active days were February 20 and 21, when the total volume of transactions reached $13.3 mln and $19.3 mln, respectively.

We would like to add that during the last week the volume of transactions with settlements on the date of conclusion of the deal amounted to $13.37 mln, and with settlements on the date different from the date of conclusion - $28.42. Compared to the previous week, the volume of trades with instantaneous settlements decreased by 30.7% (from $19.3 mln), with deferred settlements - by 23.8% (from $37.3 mln).

Throughout the week, the dollar exchange rate remained stable at 87.45 KGS, except for February 24, when the closing rate slightly decreased to 87.4482 KGS. However, this change was of minimal nature and had no impact on the market.

In general, the market remains stable, however, the current decrease in trading volumes may indicate a decrease in the need for currency operations by banks and financial institutions.