The Tajik national currency, the somoni (TJS), has devaluated against the euro.
This month, the somoni has lost 4.5 percent of its value against the euro – the official exchange rate of the euro against the somoni has increased from 1:11.55 on July 1 to 1:12.08 on July 29.
Since the beginning of the year, the somoni has lost 11 percent of its value against the euro (at the National Bank) — the official exchange rate of the euro against the somoni has increased from 1:10.88 on January 1 to 1:12.08 on July 29.
Over the first six months of thi year. the somoni has lost 6.4 percent of its value against the U.S. dollar at the National Bank rate and 8.7 percent at the market rate.
The current official exchange rate of the dollar against somoni is 1:10.3 and the current market exchange rate of the dollar against the somoni is 10.32.
Meanwhile, the exchange rate of the somoni against the Russian ruble has risen 8.3 percent over the reporting period, and the current exchange rate of the somoni against the Russian ruble is 142:1,000.
The NBT specialists attribute devaluation of the Tajik national currency against the dollar to impact of global and regional economic and financial processes, a negative trade balance, decline in remittances and decrease in supply in the country’s currency market.
Tajikistan has mainly resorted to “administrative resources” to keep the currency on an even keel.
In December 2015, the National Bank ordered the closure of all unauthorized currency exchange points in the city. After that, only banks were able to perform foreign exchange operations. Anybody found violating this new arrangement could face jail terms of up to nine years.
