Why is this important
A decrease in the dollar exchange rate may indicate the strengthening of the sum against the backdrop of macroeconomic stabilization, currency interventions, or seasonal factors. The exchange rate influences import prices, foreign trade, and sentiment in the domestic market.
Key facts
- Dollar exchange rate: 12,011.02 soums (-49.13);
- Euro exchange rate: 13,958.01 soums (-106.54);
- Pound: 16,076.75 soums (-117.62);
- RUB: 148.08 soums (-0.79);
- Chinese yuan: 1,687.27 soums (-5.88);
- Japanese yen: 79.13 soums (-0.88);
- Tenge: 22.29 soums (-0.15).
What they say
There were no official statements from the Central Bank regarding the exchange rate dynamics at the time of publication. However, in August, the head of the Central Bank, Behzod Khamraev, emphasized that short-term fluctuations in the exchange rate are permissible under market regulation conditions.
Context
In September, the dollar exchange rate surged above 12,100 soums for the first time amid devaluation pressure and increased imports. Over the past 12 months, the soum has weakened by about 8% against the dollar. The regulator switched to more flexible exchange rates, reducing currency interventions. Experts attribute the recent strengthening to the receipt of export earnings and the completion of the import purchase season.
