The National Bank of Tajikistan (NBT) reports on interventions in the country’s foreign exchange market for the purpose of providing economic entities with foreign market and stabilizing the foreign exchange market.
The NBT press center says First Deputy Head of the National Bank of Tajikistan, Jamoliddin Nouraliyev, on April 19 met with top managers of the country’s lending institutions to discuss the situation in the country’s foreign exchange market.
He reportedly instructed the management of lending institutions, along with the NBT, to use their opportunities to fully provide their clients with foreign currency.
Nouraliyev added that the foreign exchange market of the country is under constant control of the NBT for the purpose of ensuring its stable work.
Since the beginning of the year, the official exchange rate of the somoni against the dollar has fallen only 0.2 percent – from 11.30:1 on January 1 to 11.32:1 on April 20.
Recall, the somoni last year lost 16.6 percent of its value against the dollar, falling from 9.60:1 to 11.3:1.
Meanwhile, most of the country's banks do not exchange national currency for dollars, while willingly exchange dollars for somonis.
Bank currency exchange offices say that they can offer customers only the currency that they, in turn, receive from other customers.
In the previous year, only a few banks issue dollars in exchange for somoni, and in strictly limited amounts – up to US$200 per person.
The banks say that there are a lot of people who want to get a dollar.
Business needs a dollar, and a large number of people save their funds in this foreign currency. At the same time, dollar receipts are decreasing.
Situation caused by coronavirus pandemic has further complicated access to the US dollar in Tajikistan.
