On Wednesday, February 26, the official exchange rate of the ruble strengthened, exceeding 150 soms for the first time since June, according to data from the Central Bank.
During the day, the Russian currency appreciated by 1 som and 84 tiyin. It is currently valued at 150.69 soms—the highest since June 20, 2024. Since February 4, the ruble has strengthened against the national currency by more than 20 soms.
The Central Bank of Russia also lowered the official dollar exchange rate from 86.63 to 85.92 rubles. Recently, the dollar on the over-the-counter Forex market fell below 86 rubles. RBC notes that the dollar exchange rate is now at its lowest since September 2024.
In February, the Russian currency began to strengthen rapidly following the resumption of dialogue between Russia and the USA—particularly regarding the resolution of the armed conflict in Ukraine. Against the backdrop of high-level contacts, including between the presidents, investor expectations for a possible lifting of sanctions on Russia improved, which reduced risks associated with the ruble.
The strengthening of the Russian currency could potentially have a positive impact on the Uzbek som due to an influx of additional currency into the republic. Russia is Uzbekistan's second-largest foreign trade partner and the main export market. Last year, nearly 80% ($11.5 billion) of remittances from migrant workers came from Russia.
Thus, a strong ruble helps lower the cost of Uzbek products in Russia and increases international remittances from migrant workers in dollar terms. Amid the ruble's appreciation, the Uzbek som has strengthened for nine consecutive trading sessions. The Central Bank set the official dollar exchange rate at 12,879.9 soms on February 27—its lowest rate since December 20, 2024.
Earlier, Spot reported that the Migration Agency launched a website to prepare for the patent exam in Russia.