The growth of the ruble rate have a positive impact on the currency market in Kyrgyzstan, says expert

Almaty. April 13. Silkroadnews - The appreciation of the ruble will have a positive impact on the currency market of Kyrgyzstan, reported KyrTAG with reference to economist Kuban Choroyev.
"Strengthening of the ruble happened due to the rising of oil prices. There are predictions that further decline in oil prices will not occur. That means that the US dollar exchange rate against the ruble will gradually decrease, and it already has a tendency to stabilize",- said K.Choroyev.
"Remittances of our migrants in rubles will increase. Strengthening of the ruble could also affect the monetary policy of the National Bank, it will be able to expand the monetary base and increase the amount of KGS in the market, because in the last two years, we have a tendency to reduce the monetary base. Now there is a possibility to fracture this trend", - he added.
As noted in the media, from mid-March, the ruble appreciated against the dollar by more than 10 rubles. On Friday, April 10, the dollar has fallen to the level of 50.4 rubles, while on March 16 it was worth 62.2 rubles. Economists believe that the ruble has already strenthened and appreciated 55-60 rubles per dollar.