DUSHANBE, May 27, 2015, Asia-Plus — The value of the U.S. dollar (USD) is continuing to depreciate against the somoni (TJS), registering an average market buying rate (the buying rate is the rate at which money dealers buy foreign currency) of USD against TJS 1:6.3225 on May 27, down from 1:6.4075 on May 26. An average market selling rate (the selling rate is the rate at which they will sell the currency) fell from 1:6.4225 on May 26 to 1:6.3425 on May 27.
In Dushanbe, the market buying rate between USD and TJS fell from 1:6.40 on May 26 to 1:6.30 on May 27. The market selling rate fell from 1:6.42 on May 26 to 1:6.32 on May 27.
In Khujand, the capital of Sughd province, the market buying rate between USD and TJS fell from 1:6.41 on May 26 to 1:6.36 on May 27. The market selling rate fell from 1:6.42 on May 26 to 1:6.38 on May 27.
In Qurghon Teppa, the capital of Khatlon province, the market buying rate between USD and TJS fell from 1:6.40 on May 26 to 1:6.28 on May 27. The market selling rate fell from 1:6.41 on May 26 to 1:6.30 on May 27.
In Kulob (Khatlon province), the market buying rate between USD and TJS fell from 1:6.42 on May 26 to 1:6.35 on May 27. The market selling rate fell from 1:6.44 on May 26 to 1:6.37 on May 27.
In Khorog, the capital of the Gorno Badakhshan Autonomous Region (GBAO), the market buying rate between USD and TJS fell from 1:6.38 on May 26 to 1:6.33 on May 27. The market selling rate fell from 1:641 on May 26 to 1:6.36 on May 27.
Meanwhile, an official exchange rate between USD and TJS set by the National Bank of Tajikistan remains the same — 1:6.2687.
USD began depreciating in Tajikistan last weekends. USD lost nearly 2.5 percent in its value against TJS from May 22 to May 25.
The average market buying rate between USD and TJS in Tajikistan fell from 1:6.52 on May 22 to 1:40 on May 25. The average market selling rate fell from 1:6.54 on May 22 to 1:6.4650 on May 25.
Tajik central bank attributes USD depreciation to measures taken by the bank new management, decrease in demand for USD, and increase in migrant remittance flows.
“The National Bank of Tajikistan jointly with lending institutions is actively acting in the country’s currency market controlling all processes taking place there. The situation is changing for the better from day to day and the current demand for foreign currency is being met completely,” an official source at the NBT told Asia-Plus in an interview.
According to him, collection and sale of new harvests in the country also promote decrease in demand for foreign currency.
Besides, migrant remittances flows have begun to increase since early April, the source added.
We will recall that Tajik central bank suspended operations of currency-exchange points belonging to physical entities in the country on April 17. The blanket ban on private exchange offices means more than half of the country’s exchange offices – 818 out of a total 1,581 – are being shuttered, leaving 763 operating. This month, 355 of those shattered private exchange offices have resumed their activities as exchange offices of lending institutions.
