Commercial banks start selling US dollar for 9100 soums

Starting from August 16, some banks in Uzbekistan have started selling the US dollar for 9100 soums, buying it for 9040 – 9055 soums. Over the past three days, the exchange rate of the US currency in banks has grown by at least 100 soums.

The American currency is also growing on the Uzbekistan Republican Currency Exchange (URCE). On August 15, 1 USD was worth 9061 soums on the URCE, which is 45 soums more than it was on August 14.

The trading volume on the exchange market, which fell sharply in early August, continues to gradually recover. Following the results of the trade on August 15, it amounted to $111 million. For comparison, from August 8 to 13, the trading volume was about $95 million. Then the dollar was traded at 8950 soums.

On August 15, the Central Bank updated foreign exchange rates. The US dollar rose by 179 soums and reached the mark of 9061 soums.

On August 9, after the first collapse of the soum, the Central Bank commented on the situation and warned that the exchange rate might begin to change more often, as the regulator is switching to a new exchange rate fluctuation policy.