Uzbek Central Bank directs $3.8B to support soum rate in 2018
Baku, Azerbaijan, Feb. 15
By Fakhri Vakilov – Trend:
Uzbekistan’s Central Bank carried out currency interventions of $3.8 billion to support the soum rate in 2018, Trend reports with reference to the Central Bank.
The Central Bank stressed that the total demand for foreign currency in Uzbekistan in 2018 increased by 1.5 times compared to 2017 and amounted to $10.4 billion.
Besides the interventions, the demand for foreign currency was met through foreign direct investments and loans, export earnings ($14.3 billion) and international remittances ($5.1 billion).
“Sufficient foreign currency flows prevented sharp fluctuations in the exchange rates,” the Central Bank said.
(1 USD = 8395.15 UZS on Feb. 15)
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