To stabilize the som exchange rate, the National Bank of the Kyrgyz Republic (NBKR) carried out its largest currency intervention of 2025, selling nearly $174 million on the foreign exchange market.
According to the NBKR, $65.3 million was sold on the day of the transaction, with an additional $108.6 million sold under deferred payment terms. This marks the bank’s sixth intervention of the year and its most substantial by volume.
In previous months, the NBKR intervened with $158.3 million in April, $81.5 million in September, and $38 million in October.
The regulator emphasized that the som remains a floating currency and that interventions are undertaken solely to limit excessive volatility and ensure market stability.
Throughout 2025, the NBKR has only conducted dollar sales, without any reverse interventions to repurchase foreign currency. This pattern reflects sustained demand for foreign currency and active trade flows within the country. As a result of these actions, the som has remained stable, with the exchange rate holding just above 87 soms per $.
Since the beginning of the year, the NBKR’s total foreign currency sales have exceeded $590 million. Over the past five years, the bank has carried out 99 interventions, selling nearly $3 billion on the market.
