According to the National Bank of Tajikistan (NBT), the Tajik national currency, the somoni, strengthened against several major currencies in 2024:
- 0.2% against the US dollar,
- 5.9% against the euro,
- 3.2% against the Chinese yuan,
- 8.9% against the Russian ruble.
Among Central Asian currencies, the somoni reportedly appreciated against the Kazakh tenge (13.3%), the Turkmen manat (0.2%), and the Uzbek sum (4.7%) but weakened against the Kyrgyz som (2.2%).
The NBT’s Monetary Policy Outlook for 2024 and the Medium Term indicated a continued use of a “floating managed exchange rate” policy without predefined limits on exchange rate changes.
The somoni’s exchange rate will be determined by supply and demand in the domestic currency market, with central bank interventions only in exceptional cases.
For 2025, the approved monetary forecast predicts a reduction in interest rates by major central banks, boosting foreign investment and stabilizing exchange rates, including that of the somoni.
