The ruble has strengthened due to support from internal factors.
The sum has strengthened against the US dollar. As of December 5, 2024, the American dollar is valued at 12,810 sums. This indicates that over the course of a week, the sum has gained 0.25%. Previously, it had lost approximately 0.33% over a two-week period.
https://uzdaily.uz/ru/sum-smog-ukrepitsia-est-opora-na-vnutrennie-faktory/2024-12-05 08:47:38
The correlation with the Russian ruble has decreased. This is excellent news for the sum at present.
In addition to the mentioned drivers, the fundamental support for the sum continues to be the increase in Uzbekistan's foreign exchange reserves. This trend is likely to persist into 2025. It serves as a strong long-term support catalyst.
In the upcoming week, the dollar/sum pair is expected to remain within the range of 12800-12860 sums.
Anna Bodrova, analyst at Alpari