Uzbekistan projects dollar exchange rate to reach 14,150 UZS by 2027

18:26 / 17.12.202457,7442 min

The government forecasts that the average annual exchange rate of the US dollar against the UZS will reach 14,150 UZS by 2027, while the international rating agency S&P predicts it will climb to 15,000 UZS over the same period.

Photo: KUN.UZ

Uzbekistan projects dollar exchange rate to reach 14,150 UZS by 2027

Photo: KUN.UZ

On December 17, the Central Bank of Uzbekistan set the official exchange rate at 12,874 UZS per US dollar. Since the beginning of 2024, the UZS has depreciated by 4.4% against the US currency.

According to Uzbekistan’s 2025 state budget parameters, the dollar's annual average rate is expected to be:

• 13,250 UZS in 2025,
• 13,725 UZS in 2026,
• 14,150 UZS in 2027.

Meanwhile, S&P Global Ratings has provided a slightly higher projection for the UZS-dollar exchange rate over the next three years:

• 13,650 UZS by the end of 2025,
• 14,300 UZS by the end of 2026,
• 15,000 UZS by the end of 2027.

Experts emphasize that predicting the exact exchange rate of the UZS is challenging due to various influencing factors. A stable economic growth rate in Uzbekistan could slow the UZS's depreciation, while rising inflation could accelerate it. Additionally, the export-import balance in external trade plays a key role in shaping the national currency’s value.