The increase in the exchange rate stemmed from increased demand [for USD]. The mining sector is likely to recover this year. Re-granting of the revoked licenses has yielded favorable results. In addition, mining exploitation is likely to begin relatively earlier compared to previous years, as this year’s weather is milder. These factors have resulted in increased demand for mining equipment and facilities, and thus impacted the exchange rate.

 What measures shall be undertaken to increase the inflow of foreign currencies?

 The issue of raising the nation’s debt ceiling had created considerable expectation. However, it did not receive approval during Friday’s Parliamentary discussion. Raising the debt ceiling was an effective means of substantially increasing the inflow of foreign currencies. Increasing exports, attracting foreign investors’ money, immediately resolving issues surrounding large-scale projects, and acquiring development loans and financing are absolute necessities in increasing the inflow of foreign currency.

 How do you view the Central Bank’s intervention in the increase of the exchange rate?

The Central Bank has been intervening in the foreign exchange market during times of abrupt fluctuation in the exchange rates. It has been said that foreign exchange reserves have increased to 1.65 billion USD, which I see as more good news.

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