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BISHKEK, March 12 (Reuters) – Kyrgyzstan’s central financial institution has banned industrial banks and different lending establishments from taking {dollars} overseas as money, it stated on Saturday, searching for to restrict fallout from the worldwide sanctions imposed on the area’s dominant economic system, Russia.
The financial institution stated it had determined to impose momentary restrictions on international forex money operations on Friday in an effort to “make sure the Kyrgyz Republic’s financial safety and to stabilise the state of affairs on the home international forex market”.
The ban got here into impact at 1130 GMT on March 11, the financial institution stated.
Kyrgyzstan’s neighbour Kazakhstan stated on Friday it was experiencing money greenback shortages as a result of elevated demand and logistics points.
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Reporting by Olga Dzyubenko; Enhancing by Kevin Liffey
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