Why is this important
The weakening of the dollar can influence import prices, foreign exchange reserves, and inflation. For the population, this might present a better opportunity to buy foreign currency. For businesses, it is a factor that can lead to overestimating contracts and foreign trade operations.
Key facts
- The projected decrease is 82-83 soums compared to the current exchange rate.
- Central Bank’s official rate as of September 15: 12,426.83 soums per dollar.
- According to the trading data, the exchange rate may decrease to around 12,344-12,345 soums.
- The exchange rate in banks on September 13-14 has already begun to decrease — to 12,400-12,450 soums.
What they say
The dollar exchange rate has predictably declined against the backdrop of FRS expectations and the strengthening of national currencies in the region, — local analysts report.
Context
The currency market in Uzbekistan remains sensitive to external macro factors, including raw material prices, US interest rates, and labour migration flows. In recent weeks, the exchange rate has exhibited weak volatility after a record jump in August. Support for the sum could be strengthened by Central Bank interventions and a decline in demand for cash currency.
