In 2025, Tajikistan's national currency, the somoni, appreciated against the US dollar and the euro but weakened slightly against the Russian ruble.
According to data from the National Bank of Tajikistan (NBT), the official exchange rate for the dollar fell by 15.4% — from 10.9355 somonis per 1 USD on January 1, 2025, to 9.2470 somonis on the same date in 2026.
The rate against the euro declined by 4.6%, from 11.3828 to 10.8578 somoni.
In contrast, the ruble appreciated by 2.5% — from 0.1109 to 0.1137 somoni per 1 ruble.
As of January 9, 2026, the official exchange rates are:
· 1 USD — 9.3086 somoni
· 1 EUR — 10.8706 somoni
· 1 RUB — 0.1157 somoni
Floating exchange rate policy
According to the "Main Directions of Monetary Policy for 2026 and the Medium-Term Period," the NBT will maintain a floating, managed exchange rate regime, without predefined limits on fluctuations.
The somoni's rate will be determined by supply and demand on the domestic foreign exchange market, alongside its real effective exchange rate index — aimed at reducing the impact of negative external factors.
The NBT reserves the right to intervene in the market only in exceptional cases.
The official exchange rate is not used for commercial currency exchange but serves official purposes, such as:
· accounting in public institutions,
· calculating customs duties,
· pricing imports and exports,
· compiling official statistics,
· and determining taxes and fees where legally required to be based on the official rate.
