How can I get the best exchange rate between the US dollar and the Tajikistani somoni?
Tajikistan is basically a cash-only economy, so you’ll need to exchange your US dollars into Tajikistani somoni if you’re planning a trip there. Credit and debit cards are generally not accepted — the same goes for traveler’s checks.
It’s been reported that it’s extremely difficult to withdraw money from the few ATM’s in Tajikistan’s major cities, especially since two of the main banks in the country went bankrupt in 2016. In other words, you’ll need to bring US dollars in cash with you when you to Tajikistan and then exchange it for somoni once you’ve arrived in the country. Though there’s a black market for foreign currency exchanges, be aware that it’s illegal to use and has strict penalties.
You also have the option to transfer money to Tajikistan with an online money transfer service — remittances to Tajikistan are common so you’ll have options. When choosing a provider, pay attention to the exchange rate and service fees.
The US dollar is the most traded currency in the world. The world’s unofficial reserve currency, it can be found in most major currency pairs. In forex, it’s an important benchmark and target rate for countries that fix or peg their currencies against its value. It is also used as the standard currency for oil, precious metals and other commodities.
$1, $5, $10, $20, $50, $100
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The Tajikistan somoni is the official currency of the Central Asian country of Tajikistan. Greatly weakened by civil conflict and market decline, the country depends on humanitarian assistance for basic needs, steadily depressing the somoni’s value.
What affects exchange rates between the US dollar and the Tajikistani somoni?
The Tajikistani somoni has a managed exchange rate with the US dollar, meaning it’s fixed and readjusted when needed by the Tajikistani central bank. Economic growth in Tajikistan, trade and interest rates all play a role for the exchange rate, although the effect is indirect and lagging because of the managed exchange rate.
Main industries in Tajikistan with potential to impact exchange rates are:
Agriculture. Cotton and wheat
Mining. Gold and silver
Heavy industries. Aluminum processing and production of chemicals
Send money from USD to TJS
How does the Tajikistani somoni trade against the US dollar historically?
In 2000, the somoni was launched as the official currency of Tajikistan, replacing the old Tajikistani ruble. Since 2006, the value of the somoni has gone down significantly compared to the US dollar.
Over the past 10 years, there hasn’t been a single time when the value of the somoni has strengthened against the dollar. This has led to minimal investments in Tajikistan by foreign investors — something the government is hoping to change. Until that happens, investments in Tajikistan should be considered extremely risky due to the consistently depreciating currency.
US Dollar to the Tajikistani Somoni for the last 10 days
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US Dollar to the Tajikistani Somoni for the last 10 months
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US Dollar to the Tajikistani Somoni for the last 10 years
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Market rate for common transfer amounts USD to TJS
Adrienne Fuller is the head of publishing at Finder. With a decade of experience creating guides in finance and education, she aims to deliver the accurate and transparent information she wishes she had when she made some of life's important financial decisions. For the past 3 years she has been the publisher of money transfers, helping readers save when they send money all over the globe. She has a BA from Colorado College and loves to hike with her two Catahoula dogs around her home in San Diego.
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