A cost of the dollar (USD) in Tajikistan has exceeded 10.00 somoni (TJS). An official exchange rate of USD against TJS set by the National Bank of Tajikistan (NBT) has increased from 1:9.7 on March 18 to 1:10.2 on March 20.
Tajik central has justified it decision to raise the USD/TJS exchange rate by saying that demand for USD has increased in domestic market following rising negative trade balance and reducing foreign currency inflows into the country.
Besides, current instable global economic situation has affected the country’s economy, according to the NBT press center.
The global spread of coronavirus outbreak and its impact on the global economy, swings in global financial markets, uncertainty in global economic policy and recent oil prices crash are reportedly among the key factors affecting the country’s national currency.
Instable economic situation has also lead to depreciation of the national currencies of Tajikistan’s partner countries.
Thus, the Russian ruble has lost 24.7 percent in its value against the dollar, the Belarusian ruble – 15.8 percent, the Kazakh tenge – 14.8 percent, the Kyrgyz som – 4.7 percent, and the Turkish lira – 8.6 percent.
Meanwhile, in the gray market, TJS has lost 6.7 percent in its value against USD in recent days – the USD/TJS exchange rate has increased from 1:9.79 on March 17 to 1:10.4 on March 20.
Tajik central bank is currently using every opportunity to reduce pressure in the domestic marketю
