Rate of Uzbek currency begins to fall again after brief growth

Finance Materials 29 August 2019 17:27 (UTC +04:00)

Baku, Azerbaijan, Aug 29

By Fakhri Vakilov -Trend:

The rate of the US dollar grew by 21 soums on the Uzbek stock exchange on August 29, Trend reports via Uzbek media.

Earlier Trend reported that on August 21, the Uzbek soum stopped its fall against the dollar, which lasted a month, and began to grow gradually.

While on August 28 the course was 9,382 soums, today it increased to 9,403 soums.

On the other hand, in a number of commercial banks of the country, the dollar on sale has become cheaper. For example, in “Kapitalbank” citizens can buy one dollar for 9,420 soums, which is 10 soums cheaper than yesterday. At the People’s Bank, it fell in price to 9,400 soums.

According to the results of foreign exchange trading on the stock exchange, the euro has not changed and stood at 10,480 soums per unit. The cost of the Russian ruble is 141.92 soums.

In early August, the national currency of Uzbekistan began to plummet. Uzbek soum depreciated by more than 10 percent. According to experts, the national currency will become cheaper even further if the country does not increase export volumes.

The Central Bank of Uzbekistan no longer sets prices for the sale and purchase of foreign currency.

Prices for the purchase and sale of currency are now formed on the market independently.

Furthermore, from August 20, commercial banks began selling foreign currency in cash through exchange offices.


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