Why is this important
Exchange rate fluctuations affect imported goods prices, foreign trade, and the cost of servicing external debt. For businesses and the population, the growth of the foreign exchange market is directly reflected in expenses.
What happened
- 1 US dollar – 12,099.72 soums;
- 1 euro – 14,223.22 soums;
- 1 Russian ruble – 148.90 soums.
Context
Over the past month, the soum has shown a smooth weakening against the main currencies. According to the Central Bank, the dollar-to-sum exchange rate has increased by almost 8% since the beginning of the year. Economists attribute the dynamics to the growth of imports from China and Russia, as well as the servicing of external debt, which increased by $8 billion and exceeded $72 billion in six months.
