Exchange Rate of the Uzbek Soum Fell by 6.2 Points

From January to April 2025, the Real Effective Exchange Rate (REER) index of the Uzbek soum fell by 6.2 points to 105.2 points, according to experts from the Institute for Macroeconomic and Regional Studies (IMRI).

The Nominal Effective Exchange Rate (NEER) index declined by 5.4 points, landing at 88.7.

IMRI noted that a decline in the real exchange rate index leads to lower export prices and higher prices for imported goods.

The index is calculated as a weighted average of the Uzbek soum’s exchange rate against the currencies of its trading partners, factoring in the share of each foreign currency in the country’s foreign trade.

From January to April 2025, the soum depreciated by 0.5% against the U.S. dollar. The Russian ruble appreciated by 20%, the Kazakh tenge by 1.1%, while the Chinese yuan weakened by 0.1%.

Kursiv Uzbekistan also reports he U.S. dollar has continued its sharp rise in Uzbekistan.