Stable Soum Supports Purchasing Power, Analyst Says

Tashkent, Uzbekistan (UzDaily.uz) — The Uzbek soum is maintaining stability against the US dollar, which has a positive effect on price stability and the purchasing power of the population, according to Alpari analyst Anna Bodrova.

By her assessment, as of 2 July 2026, the national currency strengthened by 0.75% against the US dollar over the course of the week. Previously, the soum exchange rate had remained practically unchanged, following a prior period of moderate weakening.

According to the analyst, the resilience of the national currency is sustained by a combination of several factors. These include the preservation of a tight monetary policy, a slowdown in inflation to approximately 5.5% to 6%, a significant volume of gold and foreign exchange reserves, and the Central Bank's decision to keep the main interest rate at 14% per annum.

Additional support is provided by inflows of foreign currency revenue, including income from exports and gold operations.

Anna Bodrova noted that a stable exchange rate helps reduce price pressure on imported goods and makes inflationary processes more predictable for the public. She stated that this helps mitigate the impact of external economic factors on the daily expenses of citizens.

At the same time, the analyst emphasized that the foreign exchange market forecast is an estimate. In her view, the dollar-to-soum exchange rate during the new week of July will likely trade within a range of 11,850 to 12,050 soums per dollar.