The dollar and euro exchange rate has risen again: the som is under pressure
The Central Bank has announced the official exchange rates of the Uzbek currency against foreign currencies effective from June 4. According to this, the national currency – the som continues to depreciate against major foreign currencies.
In particular, the exchange rate of the US dollar has maintained the growth rate observed in recent days. As a result of daily changes, the dollar rate has increased by 22.74 som, reaching 12,857.35 som. It should be noted that in previous days, this currency had also risen by 44.18 som, amounting to 12,834.61 som.
At the same time, the price of the euro against the Uzbek som has also slightly increased. Its rate has risen by 10.55 som, reaching 14,672.81 som. This indicator may further enhance the attractiveness of the European currency in the local market.
The Russian ruble has also appreciated slightly against the national currency. The ruble rate has increased by 0.80 som and currently stands at 163.45 som. This may be of particular importance for operations related to the ruble.
Experts emphasize that the regular increase in the dollar and euro rates may have certain effects on the national economy. Firstly, the prices of imported goods may rise, and this situation is likely to contribute to inflationary pressures.
On the other hand, the growth of foreign currency may also have positive aspects for exporting companies. The amount of income for companies engaged in exports, calculated in the national currency, will increase, which may improve their financial situation.
At the same time, the public's attitude towards changes in the currency market is also significant. Usually, as a result of the depreciation of the national currency, many people tend to purchase foreign currencies. This will lead to an increase in demand in the domestic currency market.
According to specialists, the reasons for such changes are largely related to external factors. In particular, the global economic situation, fluctuations in currency rates in global markets, and changes in foreign investment flows are important factors affecting the value of the national currency.
In order to stabilize the economic situation in Uzbekistan, the Central Bank is continuously monitoring the situation in the currency market and taking measures to prevent sharp fluctuations in rates through interventions when necessary. However, the unique characteristics of external markets and the close connection of the national economy with external trade and financial markets complicate these processes.
Thus, the question of how currency rates will change in the near future remains an interesting one for many. How long the depreciation of the national currency will continue and what its consequences will be will be revealed over time. For this, the monetary policy of the Central Bank and the government's measures to ensure economic stability are of great importance.
