Kyrgyzstan Central Bank Adds Chinese Yuan to Daily Foreign Exchange Updates

Published on August 19, 2024

The National Bank of Kyrgyz Republic announced in recent days it will include the Chinese yuan in its shortlist of foreign currencies whose exchange rates are published daily. The nation’s central bank will determine and publish the rate of the Chinese Renminbi Yuan (RMB) against the country’s official currency, the Kyrgyz Som, starting from Sept. 1, according to a statement on its official website. Currently, only the exchange rates for the euro, Kazakhstani tenge, Russian ruble, and U.S. dollar are published daily. The exchange rates of other foreign currencies are published weekly. Kyrgyzstan’s local media viewed the move as introducing more Chinese yuan into the nation’s official circulation, and predicted that the decision will facilitate more trade and enhance economic ties with China. Reports were of the view that more Chinese investment would help to stabilize Kyrgyzstan’s financial system....

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