Kyrgyzstan lifts restrictions on export of U.S. dollars for commercial banks

BISHKEK. July 4 (Interfax) - The National Bank of Kyrgyzstan has lifted a ban on the export of U.S. dollars from the country for commercial banks, the press service for the Kyrgyz main financial regulator told Interfax.

"The board of the National Bank of the Kyrgyz Republic has decided to allow commercial banks to export cash U.S. dollars in exchange for non-cash U.S. dollars. When exporting damaged U.S. dollar bills, banks need to ensure the receipt of cash/non-cash U.S. dollars excluding the amount of commission of the counterparty bank," the statement said.

The National Bank said that the order takes effect 15 days after its official publication and will be valid until September 15, 2023.

The ban on the export of U.S. dollars from the country by Kyrgyz commercial banks was introduced in March 2022.