Shortage of dollar in Tajikistan at this time of year has become common and Tajik central bank analysts attribute the current shortage of dollar to “migration flows.”
Currency-exchange points of local banks have stopped selling U.S. dollars because of lack of the U.S. currency.
Tajik currency market has been experiencing an acute shortage of U.S. dollars since the beginning of the year. Local banks reportedly have no dollars to speak of.
Shortage of dollars in circulation in Tajikistan has led to devaluation of the national currency, the somoni.
The current average buying rate (the buying rate is the rate at which money dealers will buy foreign currency) of the dollar against the somoni set by the currency-exchange points is 1:9.43.
Meanwhile, the black market, which has come under intensified scrutiny in the past couple of years, is currently trading the US currency at around 10.03 somoni,
Tajikistan has mainly resorted to “administrative resources” to keep the currency on an even keel.
In December 2015, the National Bank ordered the closure of all unauthorized currency exchange points in the city. After that, only banks were able to perform foreign exchange operations. Anybody found violating this new arrangement could face jail terms of up to nine years. Also, banks are forbidden by law from selling somoni at more than 1.5 percent the rate established by the National Bank.
The Tajik authorities consider that in 2019 the Tajik national currency will lose not more than 3.0 percent of its value against the dollar.
