BAKU, Azerbaijan, Nov. 4
By Fakhri Vakilov-Trend:
Uzbekistan’s Central Bank has established new rates of foreign currencies for soum, which will be in force from Nov. 5 to Nov. 11 of this year, Trend reports with reference to the Central Bank.
According to the Central Bank, the US dollar went up by 3.9 soums and amounted to 9,467.27 soums.
Moreover, the single European currency fell by 86,69 soums and amounted 10,570.21 soums.
In addition, the Russian ruble went up and amounted to 149.13 soums.
An increase in exchange rate volatility was observed in August at the auctions of Uzbekistan’s interbank currency market. Since the beginning of the year, the dollar against the sum increased by 12.5 percent - from 8,336.25 soums on January 1 to 9,384 soums on August 21. Most of the growth occurred in August, when the dollar rose by 679 soums.
In this regard, the Central Bank of Uzbekistan has ceased to set prices for the sale and purchase of foreign currency.
Prices for the purchase and sale of currency will now be formed on the market independently.
Moreover, from August 20, commercial banks began selling foreign currency in cash through exchange offices.
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