The dollar exchange rate may start to fluctuate more significantly

The Central Bank of Uzbekistan has changed its exchange rate policy and allowed fluctuations in the sum/dollar pair to increase, Spot reports, citing regulator chairman Timur Ishmetov.

Ishmetov said that a larger range of fluctuations will lead to more accurate formation of business expectations for the dollar exchange rate.

Recently, we have slightly changed the exchange rate policy, so the fluctuations have become more frequent. This is already the next step. Due to low volatility over the years, market participants, especially banks and businesses, have expected that the dollar exchange rate will rise every year or only increase, even if it decreases today,” he said.

Earlier, it was reported that according to IMF forecasts, the volume of Uzbekistan’s economy could exceed $130 billion in 2025. The Head of State noted that the country had not previously had such a high growth rate and such a high international assessment.