On Wednesday, December 4, the official exchange rate of the dollar set by the Central Bank decreased for the fourth consecutive day, according to the press service of the agency.
The American currency is valued at 12,813.04 soms on the exchange. During the trading day, it fell by 12 soms and 39 tiyin, and since November 29, when a new record was established, it has decreased by more than 52 soms. Since the beginning of the year, the dollar has appreciated against the Uzbek som by 3.84%.
Last week, some commercial banks raised the selling rate above the 12,900 soms per dollar mark. The cheapest place to purchase currency is at Madad Invest Bank (12,825 soms), while Anorbank has set the most favorable buying rate (12,800 soms).
Experts surveyed by Spot believe that the strengthening of the real exchange rate of the som in the first half of the year was temporary. Among the factors supporting the national currency were the issuance of eurobonds, rising gold prices, and currency interventions by the Central Bank.
Analysts forecast an acceleration in the depreciation of the national currency by the end of the year due to an increase in the foreign trade deficit and a decrease in remittances. According to them, a rise in the dollar to 13,000 soms cannot be ruled out.
Devaluation expectations among the population are increasing. According to Freedom Finance Global, in October, about 60% of Uzbeks anticipated a significant weakening of the som within a year, and nearly 43% expected it within the next month.
Earlier, Spot reported that the official exchange rate of the tenge set by the Central Bank reached a two-year low.