The dollar has been falling for three days: new exchange rates announced

The Central Bank has announced new exchange rates of foreign currencies against the Uzbek soum starting from May 2. This was reported by an official source of the bank.

According to the announced data, the value of the US currency continued to decline again. In particular, the dollar depreciated by 20.16 soums against the soum in one day, and now its official rate is 12,900.00 soums.

The exchange rate of the single currency of the European Union, the euro, also decreased significantly. The euro depreciated by 86.12 soums in one day, equaling 14,595.06 soums.

The value of the Russian ruble, the currency of the Russian Federation, also decreased. The price of one ruble decreased by 1.29 soums, reaching 157.32 soums.

It should be noted that earlier the US dollar exchange rate had been falling for three consecutive days, falling to 12,920.16 soums. At the moment, a further decline in the dollar is being observed, and this situation is being taken seriously by market participants.

It should be noted that since the beginning of 2024, the Uzbek soum has depreciated by 4.7% against the US dollar. Before that, in 2023, our national currency depreciated by 9.7% against the dollar, and in 2022 by 3.94%.

Experts attribute these changes in the exchange rate to the situation in external markets and domestic economic processes. It is believed that the decline in the dollar observed in recent days will serve to establish a certain level of balance in the currency market within the country. Read 'Zamin' on Telegram!