Why is this important
Ослабление доллара к суму — редкое и заметное явление на фоне затянувшейся девальвации последних лет. Это влияет на цены импорта, торговый баланс и сбережения населения.
What happened
- The dollar fell by 70.91 soums to 12,067.76 — the lowest value since September 2023;
- The euro lost 35.75 soums — the rate was 14,141.00;
- Chinese yuan — minus 6.52 soums, to 1,695.03;
- Kazakhstani tenge — minus 0.28, exchange rate 22.00.
Plus:
- Pound sterling — +0.65, to 16,209.42;
- Russian ruble — +0.28, to 145.64;
- Japanese yen — +0.17, up to 81.21.
What they say
Financial analysts explain the strengthening of the sum by the seasonal growth of export earnings and the high volume of foreign exchange earnings from transfers. The exchange rates are also influenced by the Central Bank’s tight monetary policy and increased control over the foreign exchange market.
Context
In 8 months, the sum strengthened against the dollar by 438 sums (3.4%). In the spring, the IMF recommended that Uzbekistan allow greater exchange rate flexibility. The authorities say the exchange rate should reflect market balance, but experts point to possible interventions to smooth fluctuations.
