Unofficial dollar exchange rate in Tajikistan has risen or How does the black market for currency work?

Asia-Plus

Why did the unofficial dollar rise, is there really a deficit and how does the "black market" work. "Currency dealers" told us.

Today, the dollar rose again on the black market in Tajikistan – $ 100 is sold for 990-1000 somoni.

The National Bank of Tajikistan two days ago, on August 20, made a one-time adjustment to the official US dollar rate at 9.7 somoni and thus equated it to the unofficial rate that was on that day.

Here's what semi-official "currency traders" say about this.

«We work as a division of credit organizations. Yesterday they made an adjustment and demand not to exceed the established dollar rate, that is, buy $ 1 at 9.68 somoni and sell at 9.7 somoni.  At the same time, they don’t give us dollars so we can sell to people. Due to the lack of the dollar, the black market rate rose to 9.9-10 somoni for $ 1», – we were informed at one of the currency exchange points.

The National Bank said that due to the large difference between the official and unofficial rates, people began to turn to banking organizations less, which helped to accelerate the depreciation of the national currency. According to the National Bank, the difference between the official and the unofficial rate should be no more than 2%. 

 

 

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