The Russian ruble has lost nearly 5.0 percent of its value against the Tajik national currency, the somoni, in one day.
An official exchange rate of the somoni (TJS) against the Russian ruble (RR) set by the National bank of Tajikistan rose 4.8 percent in a day – from 0.1273:1 on June 20 to 0.1212:1 on June 21.
Meanwhile, the official exchange rate of TJS against RR set by Tajikistan’s national financial regulator for June 13 was 0.1203:1.
The official exchange rates of TJS against the US dollar (USD) and the euro (EUR) have also slightly increased since the reporting period: the TJS/USD exchange rate increased from 10.7287:1 on June 13 to 10.6378:1 on June 21; and TJS/EUR exchange rate increased the 11.5441:1 on June 13 to 11.4090:1 on June 21.
Experts say fluctuations in the RR exchange rate began after the United States imposed sanctions on the Moscow Exchange (MOEX) on June 12.
The recent US sanctions prompted MOEX to stop dollar and euro trading, leading to price discrepancies and reduced transparency in ruble pricing. Despite a volatile Thursday session, the ruble gained 0.1% to 88.27 against the dollar by 0759 GMT. The euro and yuan also slightly rose. In the interbank market, which excludes major sanctioned banks, the ruble stood at 88.55 per dollar. This strength is attributed to trading restrictions, foreign currency sales for rubles, Russia's capital controls, high interest rates of 16%, and a robust current account surplus.
