Value of Uzbek national currency decreases
Date
9/17/2020 6:11:08 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, Sept. 16
By Klavdiya Romakayeva - Trend:
Over the past nine trading days, the dollar at the auctions of the Uzbek Republican Currency Exchange fell for the seventh time, Trend reports referring to the Central bank in Uzbekistan.
On September 16, the dollar at the exchange trading has grown since the beginning of the week by 0.23 percent. At the beginning of September, it has grown by 0.55 percent, at the beginning of a year - by 8.63 percent. On an annualized basis the dollar grew by 9.61 percent and was fixed at 10,321 soums ($1.0052).
The Euro grew heavier on Friday trading of the previous week by 1.26 percent. Since the beginning of the first month of autumn, it has grown by 0.4 percent, at the beginning of 2020 - by 15.9 percent. On an annualized basis the euro grew by 17.3 percent and amounted to 12,340 soums ($1.2018).
The dollar continues to sink against the euro on world markets, and forecasts for the future are not encouraging.
The chief investment officer of AG Bisset foreign exchange risk management Ulf Lindahl believes that the US currency will fall 36 percent against the euro over the next year or so, reaching a level not seen in over a decade.
According to Wall Street forecasts the dollar is close to its 27-month low and has fallen about 11 percent from its 2020 peak versus a basket of comparable currencies, with Goldman Sachs, UBS, and Societe Generale predicting further losses.
The total of American currency at the auctions of the Uzbek Republican Currency Exchange decreased on September 16 compared to the previous day by 11.2 percent and amounted to $107.69 million. The sales of the European currency decreased by 62.4 percent and amounted to €4.88 million.
The decline in sales of these foreign currencies is due to a decrease in supply volumes.
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