The exchange rates of the dollar against the Tajik national currency, the somoni, is continuing to decline.
On June 20, the National Bank of Tajikistan (NBT) set an official exchange rate of the somoni (TJS) against the dollar (USD) at 10.79:1 (1.0-percent decline compared to June 17, when the official exchange rate of TJS against USD was set at 10.90:1).
Meanwhile, the current commercial buying exchange rate of USD against TJS is 1:10.30 and its current commercial selling exchange rate against TJS fluctuates from 1:10.50 to 1:10.79.
The buying rate is the rate at which money dealers will buy foreign currency, and the selling rate is the rate at which they will sell that currency.
As far as the commercial exchange rate of the Russian ruble (RR) against the somoni is concerned, it remains quite a stable.
An official exchange rate of RR against TJ set by the NBT on June 20 is 1:0.1765. It has little declined compared to June 17, when it was set at 1:0.177,
The current commercial buying exchange rate of RR against TJS fluctuates from 1:0.168 to 1:0.177, and its current commercial selling exchange rate against TJS fluctuates from 1:0.179 to 1:0.180.
A sharp volatility in the foreign exchange market of Tajikistan has been observed after imposition by the Western countries of sanctions on the Russian Federation due the so-called “special military operation” launched by Russia in Ukraine on February 24.
Experts note that because of a strong socio-economic dependence of Tajikistan on Russia, the somoni is actually pegged to the Russian ruble, and what will happen to the Russian currency after a certain time will affect the Tajik currency.
