The share of the Russian ruble in Tajikistan's overall transactions with Russia has now reached 97.5%, more than doubling since 2021, according to Deputy Chairman of Tajikistan’s National Bank, Sirojiddin Ikromi.
“Notably, the share of the Russian ruble in Tajikistan's foreign trade operations is currently 97.5%. In 2021, this figure was only 45%,” Ikromi said during a roundtable discussion on “Trade, Economic, and Investment Cooperation between Tajikistan and Russia.”
Ikromi also noted that 60% of Tajik banks' correspondent accounts are held in Russian banks. Despite Western sanctions against Russia, Dushanbe and Moscow have managed to maintain cooperation in this sector. He added that the ruble is freely convertible at all currency exchange points across Tajikistan.
“Three Russian payment systems are actively operating in Tajikistan: Unistream, Astrasend, and Kwikpay, which recently obtained a license. Another payment system is also expected to receive a license from the National Bank of Tajikistan in the coming days,” Ikromi mentioned.
Earlier in August, the head of Tajikistan’s National Bank, Firdaus Tolibzoda, reported that the regulator is observing a growing trend in ruble-based transactions with CIS partners, with the share of such operations in Tajikistan nearing 60%. At the same time, the volume of payments made in US dollars is declining, Tolibzoda emphasized.
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Based on TASS materials