Central Bank of Uzbekistan announces sharp changes in exchange rates: the sum has strengthened against major foreign currencies

On May 28, 2025, the Central Bank of the Republic of Uzbekistan announced a significant change in the exchange rates of foreign currencies recorded in the official data of the regulator. According to the updated indicators, there was a noticeable decline in the exchange rates of the US dollar, euro and a number of other leading currencies against the Uzbek soum.

According to the Central Bank, the current strengthening of the national currency is associated with a number of macroeconomic factors, including export growth, a positive balance of payments and an increase in the inflow of foreign exchange earnings to the country. The stabilization of domestic prices and the continued interest of foreign investors in assets denominated in soums also had an impact.

It is noted that this currency dynamics can have an impact on a number of economic areas. In particular, the strengthening of the soum can reduce the cost of imported goods and have a restraining effect on the level of inflation. At the same time, the decline in exchange rates may affect the interests of exporters, especially in industries focused on foreign markets.

The Central Bank of Uzbekistan stressed that it closely monitors the situation in the foreign exchange market and remains committed to the principles of flexible exchange rate formation. The regulator reminded participants in the financial and real sectors of the economy about the need to take into account current changes when planning foreign trade operations, concluding contracts and conducting currency settlements.

The Central Bank's official statement also recommends that companies and entrepreneurs strengthen their analysis of currency risks and, if necessary, review their hedging strategies. Financial institutions are called upon to provide timely information to clients about current exchange rates and possible changes in the conditions of foreign economic activity.

Economists note that the strengthening of the soum may be a short-term effect of seasonal factors or a reflection of a longer-term trend associated with the growth of the stability of the national economy. In any case, the current movement of foreign exchange rates requires flexibility from businesses and a willingness to respond quickly to changes in the external environment.

The Central Bank of Uzbekistan confirmed that it will continue to publish daily information on exchange rates and, if necessary, use all the monetary policy instruments provided for to maintain the stability of the financial market.