The Central Bank announced new exchange rates for foreign currencies against the Uzbek soum starting from May 2. This was reported by the bank's official source.
According to the announced information, the value of the US dollar continued to decline. Specifically, the dollar depreciated by 20.16 soums in one day, bringing its official rate to 12,900.00 soums.
The exchange rate of the Euro, the single currency of the European Union, also significantly decreased. The Euro fell by 86.12 soums in one day, equating to 14,595.06 soums.
A decrease was also observed in the value of the Russian ruble. The price of one ruble decreased by 1.29 soums, amounting to 157.32 soums.
It should be noted that previously, the exchange rate of the US dollar had decreased for three consecutive days, reaching a level of 12,920.16 soums. Currently, a further decline in the dollar is being observed, and this situation is being taken seriously among market participants.
It is important to mention that since the beginning of 2024, the Uzbek soum has depreciated by 4.7 percent against the US dollar. Previously, in 2023, our national currency depreciated by 9.7 percent against the dollar, and in 2022, it decreased by 3.94 percent.
Experts link these changes in currency rates to the situation in external markets and internal economic processes. The recent decline of the dollar is expected to contribute to a certain degree of balance in the currency market within the country.
