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Central Bank announces percentage devaluation of the UZS

Central Bank announces percentage devaluation of the UZS
25 Feb 2019
In 2018, the exchange rate was formed under the influence of internal and external factors, reflecting the relationship between supply and demand for foreign currency, Central Bank reported. 
 
It was noted that in the domestic foreign exchange market there was an increase in the value of UZS during the period of increase in foreign exchange earnings and decrease in demand for it. On the contrary, the depreciation of the UZS was observed in the period when demand for foreign currency increased. 
 
During the IV quarter of 2018, the UZS value dropped to 3,2% (from 8079,3 soums to 8339,6 soums per USD). By the end of 2018, the UZS was depreciated by 2,7% (from 8120,1 soums to 8339,6 soums per USD) and the difference between its maximum and minimum values was 7,3%. 
 
The relatively stable dynamics of the exchange rate was supported by such factors as stabilization of monetary policy, mitigation of external shocks and increase in currency flow, the report said. 
 
Earlier, it was reported about the causes of price increases in the last 12 months.
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