The Central Bank of Uzbekistan has set a new exchange rate for foreign currencies against the Uzbek soum, effective from August 20. The US dollar rate decreased by 25.52 soums, reaching 11,794.88 soums.

Over the past five days, the foreign currency has lost more than 153 soums, and since the beginning of the year, it has dropped by 230.45 soums. This marks the first time in three years that the dollar has fallen below the 11,800 soum threshold, raising concerns among economists and market participants.

In commercial banks, the dollar buying rate ranges from 11,735 to 11,820 soums, while the selling rate is between 11,840 and 11,875 soums. These rates differ slightly from the official rate due to bank margins.

The depreciation of the dollar could negatively impact exporters, as their goods become less competitive in the global market. Conversely, importers may benefit from the cheaper foreign currency.

Analysts suggest that the further dynamics of the exchange rate will depend on the macroeconomic situation and the policies of the Central Bank. Some experts believe that the dollar's decline may be temporary and linked to seasonal factors, while others point to underlying economic trends.

Source: uznews.uz