BAKU, Azerbaijan, Nov. 11
By Fakhri Vakilov-Trend:
Uzbekistan’s Central Bank has established new foreign exchange rates, which will be in force from Nov. 12 to Nov. 18, 2019, Trend reports with reference to the Central Bank.
According to the bank, US dollar went up by 23.50 soums and amounted to 9490.77 soums. In turn, the single European currency fell by 115.18 soums, and amounted to slightly over 10,455 soums. Russian ruble fell by 31 tiyin (Uzbek cents) and amounted to 148.82 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 slightly over 8,336 soums on Jan. 1 to 9,384 soums on Aug. 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 Aug. 20, commercial banks began selling foreign currency in cash through exchange offices.
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