Kyrgyz som reaches historic low

The Kyrgyz national currency, the som, has dropped to its lowest mark in the history of the country. According to the National Bank of Kyrgyzstan, the official dollar exchange rate is now equal to 62.145 soms, but the currency exchange in Bishkek is 64.4 soms for the purchase and 65.4 soms for the sale of dollars.

However, the main financial regulator of the country assured that soon the currency market will calm down and the som will win back its positions. "There are no objective prerequisites for the devaluation of the som," TASS quoted the deputy chairman of the National Bank, Nurbek Jenish.

He added that, apparently, the collapse of the som is associated with the introduction of the free floating rate of the tenge in Kazakhstan, which is why the Kazakh currency dropped by 35% yesterday. "The National Bank is monitoring the situation, there is no lack of dollars in the banking system," Zhenish stressed.