The exchange rates of the dollar against the Tajik national currency, the somoni, is continuing to decline.
On June 22, the National Bank of Tajikistan (NBT) set an official exchange rate of the somoni (TJS) against the dollar (USD) at 10.6021:1, while yesterday, the official exchange rate of TJS against USD was set at 10.6031:1.
Meanwhile, the current commercial buying exchange rate of USD against TJS is 1:10.20 and its current commercial selling exchange rate against TJS fluctuates from 1:10.30 to 1:10.60.
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.
In the gray market, the buying exchange rate of USD against TJS is 1:10.20, and its selling exchange rate against TJS is 1:10.40.
The euro exchange rate is also unstable in Tajikistan. Today, the official exchange rate of the euro against the somoni is set at 1:11.18, while yesterday, it was 1:11.15.
It is to be noted that the trend towards an increase in the exchange rate of the somoni against the dollar and the euro has continued since mid-April.
As far as the official exchange rate of the Russian ruble (RR) against the somoni is concerned, today it was set by the NBT at 1:0.1772 (0.4-increase compared to June 21, when it was sat at 1:0.1765).
The current commercial buying exchange rate of RR against TJS fluctuates from 1:0.160 to 1:0.173, and its current commercial selling exchange rate against TJS fluctuates from 1:0.173 to 1:0.179.
In the gray market, the buying exchange rate of RR against TJS is 1:0.174, and its selling exchange rate against TJS is 1:0.176.
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.
