The recent dynamic movements in exchange rates observed in Uzbekistan's financial market indicate a strengthening of supply and demand factors influencing economic balance. In particular, the value of the US dollar against the Uzbek soum rose significantly over the past three days. However, according to the official exchange rate set by the Central Bank of the Republic of Uzbekistan for July 10, 2025, 1 US dollar decreased by 58.77 soums, amounting to 12,653.32 soums. This is considered an important turning point compared to the previous days’ dynamics.
The short-term volatility of the US dollar against the soum is explained by several key factors:
1. Global macroeconomic trends – Decisions by the US Federal Reserve on interest rates, as well as demand and price movements in global markets, directly affect the exchange rate.
2. Changes in domestic supply and demand – Fluctuations in import and export volumes, and increases or decreases in investor demand for currency, directly impact the value of the soum.
3. Central bank interventions – The Central Bank’s activity in regulating the market, including its strategy for managing currency reserves, can also cause short-term fluctuations in the exchange rate. Read 'Zamin' on Telegram!
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