Right now, the exchange rate for USD to UZS rate today is hovering around 11,983.97.
Honestly, if you've been watching the Uzbekistani som lately, you know it's been a weird ride. Most people expect the som to just keep sliding forever because that's what it did for years. But 2026 is turning out to be a bit of a plot twist.
Just this morning, January 17, 2026, the mid-market rate is sitting just under that 12,000 mark. It’s actually a bit stronger than it was earlier in the week. On January 13, we saw it peak at about 12,152.98, and since then, it's been clawing back some ground.
Why the som is actually holding its own
It’s mostly gold.
Uzbekistan is sitting on massive reserves—about $66.3 billion as of the start of this year. When gold prices stay high globally, the Central Bank of Uzbekistan (CBU) has a massive cushion. They aren't just sitting on their hands, either. The CBU has kept the policy rate tight at 14%, which basically means they’re making it expensive to bet against the som.
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You’ve also got these huge remittance inflows. People working abroad are sending back massive amounts of cash, and that keeps the local demand for som higher than you might think.
The numbers you actually need to know
If you’re heading to a bank in Tashkent or checking your Wise app, here is how the math breaks down at the current 11,983.97 rate:
- $10 gets you roughly 119,840 UZS.
- $100 is about 1,198,397 UZS.
- $1,000 lands you at 11,983,970 UZS.
Keep in mind that if you’re using a physical exchange booth or a credit card, you’re going to lose about 2% to 3% in fees and "spread." Visa and Mastercard don't give you the mid-market rate for free. They take their cut.
The 2026 outlook: Stability or a trap?
There is a lot of talk among analysts at places like the Eurasian Development Bank (EDB) and ING about what happens next.
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Some experts, like Dmitry Dolgin at ING, think the som will only see a tiny 2% correction this year. That’s wild because usually, we see much bigger drops. Why so optimistic? Because the government is actually trying to cut the budget deficit and get into the World Trade Organization (WTO) by March.
But it's not all sunshine.
Inflation is still a massive pain. While the government wants to get it down to 7%, anyone living in Tashkent will tell you that meat and utility prices aren't exactly "stable." Beef prices jumped nearly 25% over the last year. So, while the USD to UZS rate today looks steady on a chart, your buying power inside the country might feel like it's shrinking anyway.
Common mistakes to avoid
Don't wait for a massive crash to buy som if you're traveling or doing business.
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The CBU moved to a more flexible exchange rate system last April. This means they let the market breathe more, but they still step in if things get too crazy. We aren't in the era of the "black market" rates anymore—the gap between the official rate and the street rate is basically gone.
Also, watch the gold market. If gold prices tank, the som will likely follow suit because that’s Uzbekistan’s primary shield against the dollar.
What you should do next
If you are holding dollars and need to pay for things in Uzbekistan, you're actually in a decent spot. The rate is relatively stable compared to the volatility we saw in mid-2025 when it hit over 12,700.
- Check the bank apps: Banks like TBC Uzbekistan or Ipak Yuli often have slightly better digital rates than the physical windows.
- Monitor the 12,000 level: This is a psychological barrier. If the rate stays below this for the next week, it signals a lot of confidence in the CBU’s current strategy.
- Use local cards for big purchases: If you can, use a local UZS card for shopping to avoid the daily fluctuations of the dollar.
The USD to UZS rate today tells a story of a currency that is finally finding its footing, even if the local cost of living is still a bit of a headache. Stay sharp, watch the gold charts, and don't expect the old "guaranteed depreciation" rules to apply like they used to.