On Tuesday, January 7, the official exchange rate of the dollar reached a new record. This was reported by the Central Bank.
The American currency is valued at 12,948.1 sums. During the trading day, it increased by 17 sums and 99 tiyin, or 0.14%.
Other global currencies also appreciated against the sum. The euro is currently priced at 13,502.28 sums, which is 111 sums and 86 tiyin higher than yesterday, while the British pound stands at 12,266.7 sums, gaining over 135 sums.
Most commercial banks offered dollars at rates between 12,950 and 12,990 sums, with "Alokabank" and the People's Bank providing the lowest rate at 12,935 sums. The buying rate started at 12,870 sums, with the most favorable rate set by Anorbank at 12,910 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 pace of devaluation significantly slowed compared to 2023, although it increased compared to the two preceding years.
The weakening accelerated somewhat in the second half of last year, peaking in November when the dollar rose by approximately 90 sums. In the first half of the year, the dollar appreciated relatively slowly, 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 slowdown in import growth. The role of the Central Bank's policies in controlling the currency market was also emphasized.
Previously, Spot reported that the Ministry of Economic Development and Finance expects Uzbekistan's GDP to grow by 6% this year.