Uzbekistan's soum continues to depreciate
By Trend
The official euro exchange rate in Uzbekistan increased by 50.72 soums compared to last week - up to over 10,196 soums for Feb.6, according to the Central Bank of Uzbekistan.
Compared to the previous week, the official rate of the USD increased by 11.18 soums and amounted to 8186.95 soums.
The ruble slightly fell - by 0.38 soums, to 144.86 soums per one ruble.
The official US dollar exchange rate in January 2018 increased by 55.7 soums (an increase of 0.68 percent) and amounted to 8,175.77 soums at the end of the month, the euro - by 921.41 soums (an increase of 9.98 percent) to 10146.13 soums.
The Central Bank may affect the level of demand and supply of foreign currency through monetary policy by curbing the growth of the money supply and increasing the attractiveness of assets in the national currency, the Central Bank said.
Last September, Uzbekistan devalued its currency by almost half as the country floated the soum to end more than two decades of economic and market isolation. The country’s central bank rated the U.S. dollar at 8,100 soums on September 5, compared with the previous rate of 4,210 soums.
Before the currency reform in Uzbekistan, there were several exchange rates, including the official exchange rate of the Central Bank, the exchange clearing rate of the US dollar, which was used by the importers of goods, as well as the "black" rate for the bulk of the population.
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