Tashkent, Uzbekistan, Aug. 26
By Demir Azizov- Trend:
The devaluation of the Kazakh tenge will not affect the Uzbek som exchange rate, Jahongir Abdurasulov, deputy director of the licensing and credit institution regulation department of the Central Bank of Uzbekistan, said.
"The Kazakh tenge was devalued by 25 percent," Abdurasulov told reporters Aug. 26. "This is not a surprise to us. We are ready for this. Therefore, the tenge free rate will not affect us."
He said that Uzbekistan is not an exporter of oil and therefore, the fluctuations in the energy market do not affect the Uzbek som rate.
The official exchange rate of the national currency of Uzbekistan, set weekly by the Central Bank, hit 2595.52 som per $1 on August 25 versus 2590.38 som per $1 August 18 (a 0.2 percent decrease).
The official exchange rate of sum reduced by 7.1 percent from 2422.40 soms as of early 2015 to 2595.52 som $1 today.
The exchange rate of sum on the "black" currency market of Uzbekistan remained unchanged versus $1 increasing from 4,500 soms per $1 to 4,600 soms (a 0.01 percent growth) for the last week, while the Kazakh tenge reduced twofold from 20 to 10 soms per one tenge.
The Central Bank of Uzbekistan has not commented the situation on the "black" currency market.
Edited by CN