The dollar exchange rate on the stock exchange on Wednesday, January 8, has once again set a new record. This information is reported by the Central Bank.
The American currency increased by 14 sums and 88 tiyin. By the end of the trading day, it was valued at 12,962 sums and 98 tiyin.
Meanwhile, the euro exchange rate fell by 124.48 sums during the day, reaching 13,377.80 sums. The British pound also significantly depreciated to 16,140 sums, a decrease of more than 126 sums.
In most commercial banks, dollars were priced between 12,970 and 13,010 sums, with the lowest rates offered by "Alokabank," "Asakabank," and the People's Bank at 12,950 sums. The purchase rate started from 12,885 sums, while Anorbank was buying currency at 12,925 sums.
Throughout 2024, the dollar appreciated against the sum by 4.7%, reaching a year-end value of 12,920 sums. The pace of devaluation has noticeably slowed 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 increase was relatively slow, although experts noted that this phenomenon was temporary.
Analysts attribute the slowdown in devaluation last year to gold exports and an increase in remittances from labor migrants, as well as a slowdown in import growth. The role of the Central Bank's policy in controlling the currency market was also emphasized.
Earlier, Spot reported that the Islamic Development Bank group would allocate $40 million to Uzbekistan to support small businesses.