DUSHANBE, October 19, 2009, Asia-Plus — Farrukh Saidov, the head of the social sphere and labor market department within the Center for Strategic Studies attributes the fall in exchange rate of the dollar against the somoni to increase in dollar inflow into the country in recent months.
According to him, the dollar inflow into the country in September-October this year has allegedly increased several times that has resulted in the USD exchange rate falling.
“It is natural thing for this period because the majority of Tajik labor migrants are returning home during this period, bringing a large amount of the U.S. currency with them,” the expert from Tajik thin tank noted.
The other reason for devaluation of USD in Tajikistan is increase in demand for the national currency in the country. “People have begun purchasing more food products, making stocks for winter and for this, they have to exchange the reserved dollars for somoni,” Saidov said.
The expert added that increase in the dollar volume in the country might negatively impact macroeconomic indicators of Tajikistan. “This may lead to increase in imports into the country because prices of domestic goods will rise,” Saidov said.
