The sum is decreasing, but with dignity.

The Uzbek som continues to experience a decline against the US dollar, indicating ongoing currency weakness. As of October 24, the dollar is trading at 12,822 soms. Over the course of the week, the som has depreciated by 0.17%. The previous week, it had a slight decrease of 0.04%, but the pace of its decline has now intensified.

https://uzdaily.uz/ru/sum-snizhaetsia-no-s-dostoinstvom/2024-10-26 10:02:15

The state of the foreign trade balance poses a risk to the sum from a fundamental perspective, but overall, it has already been reflected in the prices.

According to the World Bank report, Uzbekistan has entered the top three fastest-growing economies in Europe and Central Asia in 2024. Private consumption has been identified as the economic driver, supported by wage indexing, government payments, and a reduction in inflationary pressure. All of this is highly relevant for Uzbekistan. The country's GDP may rise by 4.6-5.0% this year and by 5.5-5.8% next year. This would position Uzbekistan as the leader in economic growth in the region.

Short-term expectations for the dollar/sum pair do not rule out fluctuations within the range of 12800-12865.

Anna Bodrova,

analyst at Alpari