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National currencies of Tajikistan and Uzbekistan sharply fall in price

During the first week of March, the national currencies of Tajikistan and Uzbekistan fell sharply. Fergana reported.

As noted, dollar started growing in February in Tajikistan. By the end of the second decade, it grew by one percent, having passed the mark of 8 somoni for $ 1. As of today, the official rate set by the National Bank of the Republic of Tajikistan is 8.08 somoni for $ 1.

However, it is almost impossible to purchase cash dollars in banks since mid-February. But they can be bought on the black market for 8.4–8.5 somoni per $ 1.

Economic expert Anvar Zairov commented on the situation: «The dollar is growing, and I do not see that it was particularly controlled — there are no official reports from the National Bank on currency interventions. The fact is that there is no economy in the country, and all currency flows are controlled by certain structures and people.»

«There are two phases of the currency’s dynamics. The first is when it is necessary to buy up the currency and withdraw it (both for business purposes and for withdrawal to offshore). In this case, the dollar either falls, or keeps in a more or less stable position. The second phase — when there is no need for it, moreover, it is necessary to «drain off» the remnants of the currency. In the second case, the rate grows for no apparent reason, as it is now, when there are no external factors for a sharp rise in the value of the dollar," the expert explains.

The growth of dollar is spontaneous, it is not backed by external factors or internal factors. At the same time, there is a shortage. It is an artificial action.

Anvar Zairov

Dollar also grows in Uzbekistan. Since February 28, the American currency has risen in price by 250 soums, or by 3 percent. Over the past week, growth reached 2.5 percent. At present, the market purchase exchange rate is 7,230 soums, and sale — 7,260 soums for $ 1. At the same time, the Central Bank of Uzbekistan set a rate of 3,452.3 soums for $ 1.