Uzbekistan sets exchange rates for Dec. 3-9
BAKU, Azerbaijan, Dec. 2
By Fakhri Vakilov - Trend:
Uzbekistan’s Central Bank has established new foreign exchange rates, which will be in force from Dec. 3 though Dec. 9 2019, Trend reports with reference to the bank.
According to the Central Bank, the US dollar went up by 16.31 soums and amounted to 9,510 soums.
In addition, euro went up by 11.32 soums to 10,476 soums.
The Russian ruble fell by 95 tiyin (Uzbek cents) and amounted to 147.79 soums.
The US currency has recently been showing slight fluctuations in both directions, while the euro has been rapidly falling in price in recent weeks, but has now grown.
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 US 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 US dollar rose by 679 soums.
In this regard, the Central Bank of Uzbekistan has stopped to set prices for the sale and purchase of foreign currency.
Prices for the purchase and sale of currency are now formed on the market independently.
Moreover, from Aug. 20, commercial banks began selling foreign currency in cash through exchange offices.
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