KHUJAND, October 28, 2008, Asia-Plus — A total loan portfolio of banks in the northern Sughd province increased by 200 million somoni in the year to October 1, 2008, reaching 636.7 million somoni, Asia-plus has leaned from Abduvohid Raupov, deputy head of the branch of the National Bank of Tajikistan (NBT) for Sughd.
According to him, the current market Somoni exchange rate against the US Dollar in the province is 3.42:1, while for the end of September and the beginning of October it was 3.44:1. The current official Somoni exchange rate against the USD is 3.40:1.
Raupov attributes strengthening of the national currency to labor migrants’ remittances. “Compared to last year labor migrants’ remittances to banks in Sughd have increased by 72 percent,” said Raupov, “Since the beginning of this year, labor migrants have remitted 587.1 million US dollars to banks in the province.”
