Why is this important
Foreign currencies directly affect the prices of imported goods, machinery, and other goods, as well as the level of savings of the population. The change in the dollar exchange rate as one of the strongest and most influential currencies in the world directly affects the economy and price transformation. The difference between Central Bank and commercial banks’ exchange rates is an important factor for those who buy currency for travel, transfers, or business.
What happened
- The Central Bank announced new exchange rates for November 24.
- All major currencies rose in price.
- Commercial banks are selling the dollar at 12,025 soums as of November 21.
Central Bank’s full forecast:
- Dollar — 11 971,40 soums (+56,73);
- Euro — 13 797,04 soums (+61,81);
- Pound — 15 637,04 soums (+52,65);
- Ruble — 151,81 soums (+3,54);
- Yuan — 1 683,69 soums (+9,11);
- Yen — 76,37 soums (+0,57).
Dollar in commercial banks as of November 20:
- Kapitalbank: sale — 12 025 soums;
- Ipoteka bank: sale — 12 025 soums;
- KDB Bank Uzbekiston: sale — 12 025 soums;
- Trastbank: sale — 12 025 soums.
Trends
- Dollar: an attempt to exit the downward trend — since the beginning of the week, the exchange rate has increased, but then gradually decreased for four consecutive days. By November 21, the currency had fallen almost to the week’s lowest, despite a slight price increase, and on November 24, the exchange rate began to rise again.
- Euro: A Small Growth Momentum — By November 20, the exchange rate had stabilized, declined again on November 21, and began to rise on November 24. The overall trend is a decrease, more pronounced than the dollar.
- Ruble: the most calm dynamics — a slight increase on November 17, then a slight decrease, after which the ruble rose again on November 20-24. Small changes in the narrow range.
Context
- The exchange rate of foreign currencies in Uzbekistan fluctuates depending on global trade trends, external market influences, energy costs, and seasonal business demand.
- The dollar is a key global currency for import settlements — therefore, any fluctuations are reflected in the final prices.
