RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 11, 2022 No. 2022-P-09/14-2-(BS)

About temporary change of procedure for determination of the official rate of Russian ruble in relation to the Kyrgyz som

For the purpose of prevention of possible speculative transactions with foreign currency in the domestic foreign exchange market, being guided by Articles 20, of 29, of 35, 68 Laws of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" the Board of National Bank of the Kyrgyz Republic decides:

1. Suspend Item 22 of Rules of determination by National Bank of the Kyrgyz Republic of the official rates of the foreign currencies in relation to the Kyrgyz som approved by the resolution of Board of National Bank of the Kyrgyz Republic of 28.03.2013 No. 10/15, regarding procedure of payments of the official rate of Russian ruble in relation to som.

2. Determine the following procedure of payments of the official rate of Russian ruble in relation to the Kyrgyz som: the official rate of Russian ruble in relation to the Kyrgyz som is calculated on cross-rate on the basis of average values between the maximum and minimum US dollar exchange rate to ruble, the previous trading day fixed in news agency Reuters Bloomberg/news Agency during period of time from 15:00 o'clock till 15:00 o'clock the present trading day on the Bishkek time.

3. This resolution becomes effective since March 14, 2022 and is effective before adoption of the relevant decision of Board of National Bank.

4. To legal management:

- publish this resolution on the official website of National Bank of the Kyrgyz Republic;

- after official publication to send this resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.

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