Commercial banks on Monday, January 6, raised the exchange rate of the US dollar following an increase in the stock exchange rate to a new record high.
In several credit institutions, the American currency is being sold for 13,000 sums — specifically, Hamkorbank, Infinbank, Orient Finance Bank, Tenge Bank, and Ziraat Bank. At KDB Bank Uzbekistan, the rate reached 13,005 sums.
The cheapest option to buy American currency is offered by Anor Bank, Alokabank, and the People's Bank, where it costs 12,945 sums.
The buying rate starts at 12,875 sums, with most banks offering it at 12,880 sums. The most favorable rate at the time of publication was set by Asakabank at 12,940 sums.
In 2024, the dollar appreciated against the sum by 4.7%, reaching a value of 12,920 sums by the end of the year. The rate of devaluation has significantly decreased compared to 2023, but has increased compared to the two previous years.
The weakening accelerated somewhat in the second half of the past year, peaking in November when the dollar rose by approximately 90 sums. In the first half of the year, the dollar's appreciation was relatively slow, although experts noted the temporary nature of this phenomenon.
Analysts attribute the slowdown in devaluation last year to gold exports and increased remittances from labor migrants, as well as a deceleration in import growth. The role of the Central Bank's policy in controlling the currency market was also emphasized.
Earlier, Spot reported that banks were allocated $1 billion for providing loans under the "Mahalla Loyihasi" program.