DUSHANBE, July 14, 2014, Asia-Plus — The volume of currency interventions conducted by the National Bank of Tajikistan (NBT) in January-June this year has reportedly amounted to 46.4 million U.S. dollars (USD).
An official source at Tajik central bank says the fall in the exchange rate between the dollar (USD) and the national currency, the somoni (TJS), has resulted from a number of seasonal factors, including increase in the volume of agricultural goods in the country that has promoted increase in fruit and vegetable exports.
Currency intervention, also known as exchange rate intervention or foreign exchange market intervention, is the purchase or the sale of the currency on the exchange market by the fiscal authority or the monetary authority, in order to influence the value of the domestic currency.
According to Tajik central bank, the market exchange rate between USD and TJS in Dushanbe increased from 1:5.01 on July 1 to 1:5.04 on July 14, with similar exchange rate rises in other parts of the country, according to the National Bank of Tajikistan (NBT).
In Khujand, the capital of Sughd province, the market exchange rate between USD and TJ increased from 1:5.01 on July 1 to 1:5.05 on July 14.
In Qurghon Teppa, the capital of Khatlon province, the market exchange rate between USD and TJS increased from 1:5.02 on July 1 to 1:5.04 on July 14.
In Kulob, the market exchange rate between USD and TJS increased from 1:5.00 on July1 to 1:5.03 on July 14.
Meanwhile, in Khorog, the capital of the Gorno Badakhshan Autonomous Region (GBAO), the market exchange rate between USD and TJS decreased from 1:5.00 on July1 to 1:4.99 on July 14.
We will recall that on June 1, 2014, the exchange rate between USD and TJS in Dushanbe, Khujand, Qurghon Teppa and Kulob was 1:5.10. In Khorog, the exchange rate between USD and TJS on June 1, 2014 was 1:4.95.
