The official exchange rate of the US dollar against the Uzbek som decreased by 235.92 som (1.93%) in April, falling from 12,210.71 to 11,974.79 som, according to the Central Bank of Uzbekistan.

Out of 22 trading sessions in the month, the dollar strengthened against the som in 9 cases and weakened in 13. The lowest dollar value was recorded on April 30 (11,974 som), while the highest was on April 9 (12,228 som).

At the end of March, banks were selling dollars starting from 12,215 som, but by April 30, the best selling rate had dropped to 11,990 som.

Economist Mirkomil Kholbaev noted that out of 39 selected currencies, only three depreciated against the dollar in April. The Russian ruble saw the strongest appreciation (8.1%), followed by the Kazakh tenge (5.1%) and the Chinese yuan (1%). Among major currencies, the euro (1.6%), pound sterling (2%), Swiss franc (1.4%), and Japanese yen (0.2%) also strengthened.

“The som’s strengthening in April is explained by the placement of securities (equivalent to $1 billion), the impact of currency appreciation in our main labor markets, and strong growth in non-gold exports (25% in the first quarter),” the economist said.

The som’s daily volatility in April stood at 0.24%, 33% higher than in March, but still significantly lower than the levels seen from May to September 2025.

Source: kun.uz