The exchange rate of the U.S. dollar (USD) against the Uzbekistani soum (UZS) has experienced significant fluctuations over the years, reflecting the dynamics of the country's economic landscape. Based on data from the Central Bank, here is an overview of the exchange rate changes from 1994 to 2023.
Early Years (1994-1999)
- In 1994, the exchange rate was UZS 25.00 for $1.
- The subsequent years witnessed a steady increase, reaching UZS 140.00 by 1999.
Turn of the Century (2000-2009): A notable surge occurred in 2000 when the exchange rate skyrocketed to UZS 325.00. The following years saw fluctuations but generally maintained an upward trend, reaching UZS 1,240.00 by 2006. The latter part of the decade witnessed a significant rise, reaching UZS 1,388.51 in 2008.
2010-2019: Despite fluctuations, the exchange rate continued to rise, surpassing 2,809.98 soums by 2016. In 2017, there is a notable entry of two instances, with the rate mentioned as UZS 3,231.48 and UZS 8,120.07. The subsequent years demonstrated further increases, reaching UZS 12,338.77 by 2019.
Recent Years (2020-2023): The exchange rate continued its upward trajectory, reaching UZS 10,810.22 in 2022. As of 2023, the rate stands at UZS 11,195.57, reflecting ongoing dynamics in the foreign exchange market.
The fluctuations in the exchange rate underscore the importance of monitoring economic indicators to make informed decisions in financial planning and international trade.
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