EDB forecasts average annual dollar exchange rate in Kyrgyzstan in 2023

Bishkek, Dec. 1, 2022 / Kabar/. According to the forecast of the Eurasian Development Bank, the average annual exchange rate of the US dollar in Kyrgyzstan in 2023 will be at the level of 83.3 soms. The Bank's analysts forecast a slight depreciation of the US currency in the Kyrgyz Republic, since last year the average annual rate, according to their forecast, was 83.7 soms. At the same time, for 2024 they indicate an increase in the dollar against the som to 85.2. According to analytical data, next year the ruble will gradually weaken against the US currency. The overvaluation of the ruble formed this year will decrease as the foreign trade surplus shrinks. Its average annual exchange rate against the dollar in 2023 is projected at 68.4. The EDB forecasts a moderate weakening in the Kazakh currency in 2023. The reason for this will be the restrained growth of the economy and the increased volume of imports. The average annual rate will be 486 tenge per dollar.