NBKR's news


Date: 06.12.2017

Official Message 

 

From December 7, 2017, the National Bank of the Kyrgyz Republic puts into circulation silver and copper-nickel collection coins «Heavily armed warrior of the Kyrgyz kaganate» series «Age of the Kyrgyz kaganate» and the silver collection coin «Demoiselle» of the series «Red Book of Kyrgyzstan». 

The collection coin «Heavily armed warrior of the Kyrgyz kaganate» is the fifth coin issued in the series «Age of the Kyrgyz kaganate», dedicated to the 1170th anniversary of creation of the Great Kyrgyz Kaganate. 

The main plot of the obverse side of the coin is the image of a heavily armed warrior, made by the local oxidation technology. The coin circumference shows an inscription with the name of the coin: «Кыргыз каганатынын шайма-шай куралданган жоокери» («Heavily armed warrior of the Kyrgyz kaganate»). The denomination of the coin (10 сом) is specified on the left side of the coin. 

The reverse side of the coin depicts the coat of arms of the Kyrgyz Republic in the center framed by a stylized image of the sun, the coin circumference shows the stylized depictions of warriors. The left part of the coin specifies alloy of metal (Ag 925°), the right part - the weight of the coin (28.28). The upper part of the coin gives an inscription: «Улуу Кыргыз каганаты» («Age of the Kyrgyz kaganate») and the lower part of the coin - the year of coin issue (2017). 

The collection coin «Demoiselle» issued by the National Bank of the Kyrgyz Republic in order to popularize and preserve the rare species of fauna of Kyrgyzstan listed in the Red Book of Kyrgyzstan. 

The main plot of the obverse side of the coin is the image of two Demoiselles made by the local gilding technology. The stylized images of dancing cranes are depicted on the back side. The upper part of the coin shows an inscription with the name of the coin: «Каркыра» («Demoiselle») in the Kyrgyz language and the Latin name of the species «Anthropoides virgo», while the lower part of the coin displays the denomination of the coin (10 сом). The alloy of metal (Ag 925°) and the weight of the coin (28.28 г) are given on the right side of the coin. 

The coat of arms of the Kyrgyz Republic is depicted in the center on the reverse side of the coin. The coin circumference is provided with the illustrated species of fauna of Kyrgyzstan. The lower part of the coin shows an inscription «Кыргызстандын Кызыл китеби», («The Red Book of Kyrgyzstan») and the left side - the year of the coin issue (2017). 

Each silver coin with a certificate placed in acrylic capsule and packed into a separate box. Each copper-nickel coin placed in acrylic capsule and put into a separate blister pack. 

 

Specifications of the coin 

Name 

Denomination 

Metal (alloy) 

Diameter/size (mm) 

Weight (g) 

Quality 

Issue limit (pcs) 

Price (som) 

Heavily armed warrior of the Kyrgyz kaganate 

10 Som 

Ag 925° 

38,61 

28,28 

«Proof-like» 

1 000 

3 000 

1 Som 

CuNi 

30,00 

12,00 

«Uncirculated» 

5 000 

200 

Demoiselle 

10 Som 

Ag 925° 

38,61*28,81 

28,28 

«Proof» 

1 000 

3 150 

 

 

The coins have the status of the legal tender in the territory of the Kyrgyz Republic.  

 

 

 

 

 

 


Date: 10.11.2017

On the 11th and 12th of November 2017 y., the web site of the National bank of the Kyrgyz Republic www.nbkr.kg will not work from due to the planned maintenance work. We apologize for any inconvenience. 

 


Date: 27.10.2017

In Kyrgyzstan, the mission of the International Monetary Fund began its work. 

 

On October 26, 2017, the mission of the International Monetary Fund (IMF) began its work in the Kyrgyz Republic.  

The purpose of the visit is to conduct the Fourth and Fifth Reviews of the economic program within the framework of the IMF extended credit facility (ECF). 

During the visit the IMF Mission team will meet with the representatives of the Government of the Kyrgyz Republic, the National Bank of the Kyrgyz Republic and other organizations. The mission's visit will last until November 8, 2017. 

 

For reference: 

In April 2015, the IMF Executive Board approved a new three-year agreement to support the economic program of the Kyrgyz Republic within the framework of an extended credit facility (ECF) in an amount equivalent to 66.6 million special drawing rights (approximately $ 92.4 million). The aim of the program is to ensure macroeconomic stability and sustainable economic development of the country in the medium term 

 


Date: 26.09.2017

 

 

 

Press Release  

National Bank of the Kyrgyz Republic keeps  

its policy rate unchanged at 5.0 percent  

 

On September 25, 2017, the Board of the National Bank of the Kyrgyz Republic decided to keep the policy rate unchanged at 5.0 percent. The decision becomes effective as of September 26, 2017. 

Inflation in the Kyrgyz Republic continues to demonstrate moderate dynamics within the values ​​expected by the National Bank, which tends to the lower boundary of the target range of 5-7 percent in the medium term. Annual inflation (as of September 15, 2017) made up 3.2 percent, having decreased from 3.8 percent in August. Gradual recovery of domestic demand and dynamics in imported food prices keep being the main factors of inflation.  

Positive trends continue in the economy of the Kyrgyz Republic due to the improvement of the external and internal conditions. In January-August 2017, the economic growth was 6.0 percent. Excluding the data of the “Kumtor”1 gold-mining enterprises real GDP growth made 3.6 percent. The main sectors of economy show the output growth. The economy growth is also supported by an increase in the inflow of remittances. The net inflow of remittances increased by 28.8 percent in January-July 2017. 

The domestic foreign exchange market remains stable. From the beginning of 2017 (as of September 21) the national currency has appreciated by 1.1 percent. In September 2017, the National Bank did not participate in the domestic foreign exchange market. 

Monetary conditions continue to support measures to stimulate the real sector of the economy. The countrys banking system has a sufficient level of excess liquidity in the national currency. Short-term money market rates in the national currency continue to fluctuate within the interest rate corridor set by the National Bank. Decrease in interest rates on loans for the end borrowers and expansion of lending are being observed. 

According to the current forecasts of the National Bank, taking into account the ongoing recovery of domestic demand, balanced forecasts for agriculture production in the country and price dynamics in the international commodities markets, the inflation rate in the upcoming period will be close to the medium-term target range of 5-7 percent. Under these conditions, as well as in the absence of external and internal inflationary risks, this level of the policy rate of the National Bank will allow supporting the measures to stimulate the economy. 

The National Bank on a regular basis assesses external and internal factors influencing inflation and depending on the economic situation will take relevant and timely monetary policy measures. 

 

Briefing: 

The next meeting of the Board of the National Bank of the Kyrgyz Republic on the monetary policy rate is scheduled for November 27, 2017. 

 

 

 

_______________________________

1The real GDP value without Kumtor enterprises is more indicative for the monetary policy purposes.

 

 


Date: 14.09.2017

In Kyrgyzstan, the mission of the International Monetary Fund carried out its work 

 

During the period of September 7 and 13, 2017, the International Monetary Fund (IMF) mission conducted its work in the Kyrgyz Republic.  

The purpose of the visit was to discuss the latest trends in the country's economy, the completion of consultations on Article IV and the maintenance of a dialogue on the implementation of the economic program within the framework of the IMF extended credit facility. 

Within the framework of the visit, meetings were held with representatives of the Government of the Kyrgyz Republic, the National Bank of the Kyrgyz Republic and other organizations.  

 

For reference: 

In April 2015, the IMF Executive Board approved a new three-year agreement to support the economic program of the Kyrgyz Republic within the framework of an extended credit facility (ECF) in an amount equivalent to 66.6 million special drawing rights (approximately $ 92.4 million). The aim of the program is to ensure macroeconomic stability and sustainable economic development of the country in the medium term. 


Date: 30.08.2017

 

 

 

 

Press Release  

National Bank of the Kyrgyz Republic keeps  

its policy rate unchanged at 5.0 percent  

 

On August 28, 2017, the Board of the National Bank of the Kyrgyz Republic decided to keep the policy rate unchanged at 5.0 percent. The decision becomes effective as of August 29, 2017. 

Actual inflation continues to be within the values ​​expected by the National Bank, which tends to the lower boundary of the target range of 5-7 percent in the medium term. Annual inflation (as of August 18, 2017) made up 3.9 percent. The observed growth of domestic and external demand is the main factor of inflation. 

The economic activity indicators of the Kyrgyz Republic continue to be in the positive phase. In January-July 2017, the economic growth was 6.9 percent. Excluding the data of the “Kumtor” gold-mining enterprises real GDP growth made 3.6 percent. The positive economic growth rates are mainly influenced by improved situation in the main trading partner countries and by an increase in the inflow of remittances. The main sectors of economy show the output growth. One of the factors of production capacity improvement is an increase in lending the real sector of economy and, in general, lowering trend in interest rates on loans. The net inflow of remittances increased by 28.8 percent in January-July 2017. 

The domestic foreign exchange market remains stable. From the beginning of 2017 (as of August 25) the national currency has appreciated by 0.9 percent. In August 2017, the National Bank did not participate in the domestic foreign exchange market.  

The interest rate policy of the National Bank aimed at supporting measures to stimulate the economy conditioned the maintaining money market rates within the range of interest rate corridor set by the National Bank and, as a result, causing a drop in the interest rates on loans for the end borrowers. In general, the banking system of the country continues to maintain a sufficient level of free liquidity in the national currency. 

According to the current forecasts of the National Bank, in the forthcoming period inflation will be within the medium-term target range of 5-7 percent taking into account the growth trend of domestic and external demand as well as the prerequisites for domestic production of agricultural products and the dynamics of world food prices. Under these conditions and given the absence of external and internal inflationary risks, the decision to keep the National Banks policy rate at the current level will support the measures to stimulate the economy

The National Bank on a regular basis assesses external and internal factors influencing inflation and will continue to take relevant and timely monetary policy measures.  

 

Briefing: 

The next meeting of the Board of the National Bank of the Kyrgyz Republic on the monetary policy rate is scheduled for September 25, 2017. 

 

 

 


Date: 23.08.2017

The Governor of the National Bank of the Kyrgyz Republic had a meeting with students from Japan 

August 22, 2017 the Governor of the National Bank of the Kyrgyz Republic had a meeting with Nagoya University students (Japan). Within the framework of this meeting, the Governor of the National Bank of the Kyrgyz Republic made a presentation on the topic of «Economic Situation in the Kyrgyz Republic», which also covered the issues of monetary and fiscal policy, exchange rate, banking and payment systems. After the presentation, the students had chance to ask questions and visited the numismatic museum of the National Bank of the Kyrgyz Republic.