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Date: 29.05.2018
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The commemorative banknote of the national currency with face value 2000 Som was awarded as the Best New Currency Innovation during the Banknote Conference 2018 in Dallas, TX, USA on 21 May 2018.  

Banknote Conference is the main conference in banknote industry that providing information on the latest leading technology trends in banknote production.  

The Best New Currency Innovation award presents by the International Association of Currency Affairs (IACA) that recognizes usage of the new state-of art technology. The commemorative 2000 Som banknote received this award as the first note to use the latest security feature micro optical stripe MOTION® SURFACE™. 

 

 


Date: 29.05.2018
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Press Release 

National Bank of the Kyrgyz Republic  

decreased the policy rate to 4.75 percent 

 

 

On May 28, 2018, the Board of the National Bank of the Kyrgyz Republic decided to decrease the policy rate by 25 basis points to 4.75 percent. The decision becomes effective as of May 29, 2018. 

The actual inflation in the Kyrgyz Republic remains at a low level. Annual inflation in May, 2018 (as of May 18) was 1.6 percent and declined from 3.7 percent as of the beginning of the year. Due to the favorable situation in the international commodity markets decline in food prices supported this decrease in prices. Current recovery of domestic demand as well as stable dynamics of food prices, including imported prices, makes it possible to expect a moderate inflationary dynamics in the medium-term within the monetary policy target of 5-7 percent. 

The economic situation in the trade partners of Kyrgyzstan and its prospects continue to have an upward trend, thus creating a positive background for the economic development of the Kyrgyz Republic. The positive economic growth in the Kyrgyz Republic is supported by the increase of aggregate demand due to the steady dynamics of remittances inflow and increase of real wages. In January-April 2018, real GDP growth was 1.3 percent, excluding the data on the “Kumtor” gold-mining enterprises  2.5 percent. The main sectors of economy show the output growth. It is expected that in 2018 the real sector of the economy will continue to increase and will be closer to the potential level.  

The monetary sector is characterized by positive trends. In the banking sector a sufficient level of liquidity is being observed. Money market rates continue to fluctuate within the interest rate corridor set by the National Bank and getting closer to the policy rate. The activity in the interbank credit market is remained. Previously taken monetary policy measures are affecting the current decrease of market interest rates on loans and expansion of lending of economy. The domestic foreign exchange market remains stable.  

External inflationary conditions and growing aggregate demand, in the absence of any additional shocks, will bring to moderate inflationary dynamics in the country in the upcoming period. Taking into account the balance of risks from the external sector and the tendency of internal conditions, the National Bank decided to decrease the policy rate. This level of the policy rate will allow supporting measures to stimulate the real sector of economy. The National Bank intends to adhere to the current direction of monetary policy in the upcoming period in the absence of external shocks. 

The National Bank on a regular basis assesses external and internal factors influencing inflation and depending on the economic situation will take relevant 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 June 25, 2018. 

 


Date: 10.05.2018
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From May 10, 2018, the National Bank of the Kyrgyz Republic puts into circulation copper-nickel collection coin «25 years of the national currency of the Kyrgyz Republic» of the series «Historical Events» and the silver collection coin «Komuz» of the series «National musical instruments».  

The collection copper-nickel coin «25 years of the national currency of the Kyrgyz Republic» of the series «Historical Events» issued to popularize the most important historical events related to development of the Kyrgyz statehood. 

The main plot of the obverse of the coin is the image of the first banknote of subsidiary denomination - 1 tyiyn and banknote of a highest denomination - 5000 Som. The upper part of the coin shows an inscription with the name of the coin «Кыргыз Республикасынын улуттук валютасына 25 жыл» («25 years of the national currency of the Kyrgyz Republic»). The face value of the coin and the sign of Som, consisting of the capital letter of the official monetary unit of the Kyrgyz Republic with the low line means the stability of the national currency, are specified at the bottom. 

On the reverse side of the coin there is the coat of arms of the Kyrgyz Republic in the center and circulating coins in the following face value: 1, 10, 50 tyiyn and 1, 3, 5, 10 Som. The bottom of the coin shows the year of coin issue (2018). 

The collection silver coin «Komuz» of the series «National musical instruments» was issued by the National Bank of the Kyrgyz Republic to popularize the spiritual and cultural values ​​of the Kyrgyz people.  

The main plot of the obverse side of the coin is the image of komuz. The central part of the coin shows the face value of the coin (10 Som). The left side of the coin specifies the name of the coin «Комуз» («Komuz») and the alloy of metal (Ag 925°), on the right side there are the name of the coin in Latin letters «Komuz» and the weight of the coin (28.28 g). 

On the reverse of the coin, there is the coat of arms of the Kyrgyz Republic in the upper part. In the center - an illustration of the image of the person playing a komuz, framed by a stylized form of a musical instrument. The lower part of the coin contains the year of the coin issue (2018), on the left side there is the vertical inscription «Улуттук музыкалык аспаптар» («National musical instruments»). 

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)  

25 years of the national currency of the Kyrgyz Republic 

5 Som  

CuNi  

33,00 

15,50 

Uncirculated 

5 000 

500 

Komuz 

10 Som  

Ag 925°  

38,61  

28,28  

«Proof»  

1 000  

2 905  

 The collection coins are the legal tender in the territory of the Kyrgyz Republic.   

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Date: 20.04.2018
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From 20 April 2018, the National bank of the Kyrgyz Republic has launched the web site: numizmat.nbkr.kg for selling of collection coins of the National bank. 

On the website numizmat.nbkr.kg, you can place an order for the purchase of collection coins issued by the National bank of the Kyrgyz Republic. All information about the rules of purchase and collection coins, which are intended for selling, can be found on this web site. 

 


Date: 26.12.2017
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Press Release  

National Bank of the Kyrgyz Republic keeps  

its policy rate unchanged at 5.0 percent  

 

On December 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 December 26, 2017. 

In December 2017, the inflation remained at a moderate level in line with the medium-term targets and made up 3.7 percent y-o-y (as of December 15). Taking into account price recoveries in the international commodity markets and the growing aggregate demand, inflation will be within the monetary policy target. 

Economic activity in the country continues to show recovery. In January-November 2017, real GDP growth rate made 4.0 percent, excluding the data on the “Kumtor” gold-mining enterprises  3.9 percent. The main sectors of economy showed the output growth, primarily in industry (+12.8 percent). The steady dynamics in the inflow of remittances continues to contribute to the economic growth.  

The domestic foreign exchange market remains stable. In the first decade of December 2017, the National Bank intervened on the foreign exchange market in order to smooth sharp fluctuations of the exchange rate.  

Monetary conditions continue supporting stimulating measures to the real economy and the money market development. Banking sector of the country shows a decrease in market interest rates on loans and an increase in lending to the economy. The growth trend of interbank market activity has continued. Short-term money market rates in the national currency continue to fluctuate within the interest rate corridor set by the National Bank.  

Future development of the external economic environment as well as recovery of domestic aggregate demand will bring the inflation rate closer to the medium-term target, which does not exceed 5-7 percent. Under these conditions, and in the absence of any additional external and internal inflationary shocks in the upcoming period, this level of the policy rate will support measures to stimulate the real sector of economy. The current direction of monetary policy is possible to continue in the forthcoming period on the assumption of maintaining favorable conditions for the economy development.  

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 February 26, 2018.