Economy / Uzbekistan
Macroeconomic Forecast Uzbekistan
October 2009 | Macroeconomic ForecastsThe Uzbek som has depreciated further through October, at one point trading at UZS1,502/US$ on October 26. Since the beginning of the year, the unit has sold off by 8.2% versus the dollar. We hold to our view that the currency will come in at UZS1,560/US$ by the end of 2009. Beyond 2009, we expect further depreciation and hold to our forecast of UZS1,720/US$ by end-2011.
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