Tashkent, Uzbekistan (UzDaily.com) — At an open dialogue with export-oriented enterprises organized by the Chamber of Commerce and Industry on August 4, Uzbek exporters voiced concerns over the strengthening of the national currency and called for its devaluation.

“For the development of exports, we should not limit ourselves to tax and other incentives. I believe the Central Bank should allow the dollar exchange rate to float freely,” said a representative of a textile company.

According to him, rising costs in the national currency combined with a falling dollar rate create serious challenges for businesses. He stressed that Uzbek textile producers must compete on cost with suppliers from China, Bangladesh, and Egypt. “If the dollar is allowed to rise, that will solve 70–80% of exporters’ problems,” the entrepreneur added.

In response, Ayubkhon Kamalov, Deputy Chairman of the Central Bank, noted that the regulator does not interfere in setting the exchange rate.

“In the past two to three months, the dollar has been fluctuating sharply up and down. When it drops, everyone panics: why is it falling? When it rises, they ask why it’s going up. Please, the exchange is there — buy and sell as much as you wish,” he said, suggesting exporters use the Uzbek Republican Currency Exchange for transactions in any volume.

Kamalov also invited entrepreneurs to formulate their proposals regarding a preferred dollar rate and bring them forward for discussion.

During the meeting, Chamber of Commerce and Industry Chairman Davron Vakhabov named a desirable rate of 16,000–17,000 soums.