Dollar exchange rate on the black market of Uzbekistan grew by 10% due to lower remittances

Almaty. February 3. Silkroadnews - dollar exchange rate in relation to the Uzbek sum for last week rose by 10% on the black market, where the majority of population buys or sells currency, reports KazTAG.
The growth of foreign exchange associated with a reduction in remittances from workers in the Russian labor migrants. Since the beginning of 2015 the value of the US dollar on the black market in Uzbekistan has grown by nearly 20%, growth of the official exchange rate was 0.7%.
According to the Central Bank of the Russian Federation, Uzbekistan became a leader among the areas of personal money transfers from Russia in 2013. By the third quarter of 2014 the volume of money transfers between Uzbekistan and Russia decreased by 9% - to $2.09 billion, but the republic is still ranked first among the recipients of the CIS countries. However, according to some media reports, in October and November last year, the decline in transfers has increased significantly - by 35% and 50%, respectively.
In Uzbekistan, there are several foreign exchange rates. Rate of the Central Bank of Uzbekistan currently stands at 2442.13 soums per $1. There is also a US dollar exchange rate, which is about 4.5 thousand soums per $1. It is used by importers of goods, but the currency at the exchange is available in limited quantities. "Black" courses are the main population and business.