Uzbek sum exchange rates

All about Uzbekistan.
User avatar
Traveller11
Posts: 42
Joined: Fri Oct 07, 2016 7:10 pm
x 3
x 14

Re: Uzbek sum exchange rates

Postby Traveller11 » Tue Sep 05, 2017 9:25 am

Thanks for the information okwell.

I find it unbelievable that an exchange organisation in Europe is quoting a rate of exchange on the USD that is less than 50% of the rate being offered by the central bank in Uzbekistan.

Guess I need a 'Few Dollars More' before we set off and leave the plastic at home! :)
0 x

bwv812
China expert
China expert
Posts: 723
Joined: Sat Jan 10, 2015 11:02 pm
x 3355
x 171

Re: Uzbek sum exchange rates

Postby bwv812 » Wed Sep 06, 2017 2:31 am

okwell wrote:Official exchange rates of the central bank since 05.09.2017 are: 1USD = 8100.00 sum, 1 EUR = 9645.48 sum.
Black market: 7650/7750 sum


Those may be the rates at which they will sell dollars to you, but they're certainly not the rates at which you can exchange your dollars for sum. If it was, there would be no black market.
0 x
My 2012 overland trip from Tokyo to Istanbul: https://silkroadwanderings.blogspot.com

User avatar
olmo
Posts: 52
Joined: Tue Jul 26, 2016 5:43 am
x 43
x 52

Re: Uzbek sum exchange rates

Postby olmo » Wed Sep 06, 2017 7:25 am

Uzbekistan just dropped the artificial exchange rate on September 5:
https://www.ft.com/content/9e8e1839-9d8d-3ed4-a52b-83a57b631a9f
https://www.rferl.org/a/uzbekistan-curr ... 14017.html

Guess that would mean people could use ATMs like anywhere else.

Wondering if this will affect the bloated USD hotel prices? And it apparently means those companies, who could buy USD at the official rate, no longer enjoy this "privilege".
1 x

User avatar
Traveller11
Posts: 42
Joined: Fri Oct 07, 2016 7:10 pm
x 3
x 14

Re: Uzbek sum exchange rates

Postby Traveller11 » Wed Sep 06, 2017 7:50 am

Just looked at and read the article in the link from olmo and saw this:

"Islam Karimov, the ex-Soviet republic’s first ruler under independence, had pinned the value of the som to the dollar.

But the policy has led to a flourishing illegal market as the difference between the official exchange rate of 4,210 soms to the dollar has soared on the black market.

Banking sources told Reuters that the initial rate would be set slightly above the black-market rate, currently about 7,700 soms to the dollar.

The moves come as President Shavkat Mirziyoev, who replaced Karimov after his death was announced in September and was subsequently elected, has taken steps to reduce the isolation of the Central Asian country of some 30 million people."


It would be interesting to see if anyone who is currently in the country and reads this is able to find out what the exchange rate is at a bank?

Fingers crossed! :)
1 x

okwell
Posts: 5
Joined: Sun Jul 02, 2017 1:53 pm
x 5

Re: Uzbek sum exchange rates

Postby okwell » Wed Sep 06, 2017 10:00 am

Traveller11 wrote:It would be interesting to see if anyone who is currently in the country and reads this is able to find out what the exchange rate is at a bank?

As I said, the exchange rate is 8100 sum for 1 dollar and people are exchanging their money everyday. It takes about 15-20 minutes.
Image

bwv812 wrote:Those may be the rates at which they will sell dollars to you, but they're certainly not the rates at which you can exchange your dollars for sum. If it was, there would be no black market.

Now, sale of foreign currency on the black market is prohibited. Probably, there will be no black market anymore. Black market and the official rates are nearly the same: https://uzbdollar.ru/

olmo wrote:Wondering if this will affect the bloated USD hotel prices? And it apparently means those companies, who could buy USD at the official rate, no longer enjoy this "privilege".

Mobile operators, ticket offices, universities and most likely hotels also recalculate prices at the rate of 4210 and will only accept the national currency of the Republic of Uzbekistan.
3 x

User avatar
Traveller11
Posts: 42
Joined: Fri Oct 07, 2016 7:10 pm
x 3
x 14

Re: Uzbek sum exchange rates

Postby Traveller11 » Wed Sep 06, 2017 11:17 am

Hi okwell,

Thanks for the confirmation, appreciate your getting back to us with the information.

Cheers
0 x

Antonio
Posts: 21
Joined: Fri Feb 26, 2016 8:42 am
x 5
x 17

Re: Uzbek sum exchange rates

Postby Antonio » Wed Sep 06, 2017 2:09 pm

Wow, 50000 soms notes. I only saw a few 10000 notes, did not even knew these existed.
0 x

User avatar
Traveller11
Posts: 42
Joined: Fri Oct 07, 2016 7:10 pm
x 3
x 14

Re: Uzbek sum exchange rates

Postby Traveller11 » Wed Sep 06, 2017 2:28 pm

Antonio wrote:Wow, 50000 soms notes. I only saw a few 10000 notes, did not even knew these existed.


I guess it might make it easier to carry than a fistful of notes, but then it depends if the place you want to buy an ice cream is able to change it! :o
0 x

bwv812
China expert
China expert
Posts: 723
Joined: Sat Jan 10, 2015 11:02 pm
x 3355
x 171

Re: Uzbek sum exchange rates

Postby bwv812 » Wed Sep 06, 2017 5:11 pm

I stand corrected. Thanks for the updates!
0 x
My 2012 overland trip from Tokyo to Istanbul: https://silkroadwanderings.blogspot.com

SPR11
Posts: 54
Joined: Mon Jan 11, 2016 12:11 pm
x 1
x 21

Re: Uzbek sum exchange rates

Postby SPR11 » Sat Sep 16, 2017 8:55 am

Does anyone know if withdrawal limits at ATMs are lifted, too? Or should visitors still bring ample cash (assuming ATMs dispense Som at the market rate)?
0 x
Ramblings about our Asian journies at www.lostwithpurpose.com
There's some useful info too.


  • Similar Topics
    Replies
    Views
    Last post
  • Iran rial exchange rates
    by steven » Tue May 05, 2015 1:27 am » in Iran
    4
    3450
    by steven View the latest post
    Fri Jan 15, 2016 5:34 am
  • Turkmen manat black market exchange rates
    by steven » Fri Jan 15, 2016 5:39 am » in Turkmenistan
    54
    20562
    by TomGoode View the latest post
    Wed Nov 27, 2019 7:15 am
  • Where to exchange Uzbek sum outside Uzbekistan?
    by Celiou.g » Tue Jul 18, 2017 3:30 pm » in Uzbekistan
    2
    1204
    by dan6681 View the latest post
    Mon Oct 23, 2017 1:00 pm
  • ATM rates v black market? KAZ/TAJ/KYR
    by wombat » Mon Jun 06, 2016 11:14 am » in Kazakhstan
    5
    3253
    by steven View the latest post
    Wed Jun 08, 2016 2:25 pm
  • Tajik somoni black market rates
    by steven » Sun Jun 14, 2015 1:27 am » in Tajikistan
    21
    8642
    by mazeno View the latest post
    Thu Jul 18, 2019 7:13 am

Return to “Uzbekistan”

Who is online

Users browsing this forum: No registered users and 2 guests