TASHKENT, Uzbekistan, February 21. The Central Bank of Uzbekistan set new exchange rates for foreign currencies against the soum, Trend reports.
The dollar exchange rate amounted to 12,495.03 soums or $1.01 (+19.52), the pound was 15,758.73 soums or $1.28 (+34.60), the euro was 13,494.63 soums or $1.09 (+23.57), and the ruble was 135.13 soums or $0.011 (+0.04).
Meanwhile, the Uzbek soum depreciated by 9.8 percent in 2023.
According to the data from the Central Bank of Uzbekistan's monetary policy review, structural diversification of exports was going slowly, while the growth rate of imports continued to accelerate in the context of high domestic demand.
Moreover, the real effective exchange rate index continued its moderate decline in the fourth quarter of 2023 and strengthened by 0.8 percent compared to the beginning of 2023. This is explained by the strengthening of the exchange rates of major trading partners and the acceleration of inflationary processes in them.
In addition, according to preliminary calculations, Uzbekistan's real effective exchange rate index in December 2023 amounted to about 108.5 percent of the base period (September 2019).
As per data from the Central Bank of Uzbekistan, the real effective exchange rate index strengthened by about 0.9 percentage points against December of the previous year.