The dollar exchange rate has fallen again: are economists justified in their concerns?

On April 23, the Central Bank announced new rates for foreign currencies against the Uzbek soum. According to it, the US currency has once again lost value, this time by 30.68 soums, to 12,878.96 soums.

The euro, in turn, has fallen by 106.26 soums, and is currently valued at 14,801.79 soums. The Russian ruble has lost 1.36 soums, now worth 158.39 soums.

It should be noted that the day before, the dollar rate fell by 28.56 soums, to 12,909.64 soums. The dollar in Uzbekistan last traded below 12,900 soums on February 25.

Debates over the exchange rate in the country are still ongoing. A number of economists argue that the dollar exchange rate is being artificially maintained by the government. In their opinion, if the national currency were to be freely floated, the value of one dollar could rise to 20,000 soums.

However, the Central Bank has been firmly rejecting these assumptions. They believe that fluctuations in the foreign exchange market are natural and under control, and allegations of artificial intervention are false.

How will the dollar exchange rate change by the end of 2025? What other economic fluctuations can be observed in the country in the near future? These questions have become one of the most important topics today, not only for economists, but also for the population. Only time will tell what further changes in the exchange rate will be. Read 'Zamin' on Telegram!