THE INFLUENCE OF THE EXCHANGE RATE ON ENSURING MACROECONOMIC STABILITY IN UZBEKISTAN

Abstract

This article examines the role and significance of the exchange rate in ensuring macroeconomic stability in Uzbekistan. The focus is on the economic consequences arising from changes in the national currency’s exchange rate, particularly on inflation levels, the balance of foreign trade, and economic growth. The study analyzes the Central Bank's currency policy, methods of managing foreign exchange reserves in the national economy, and factors affecting external economic activities. The article reviews the volatility of the exchange rate and its impact on economic stability based on international experiences, offering effective mechanisms that can be applied in the context of Uzbekistan. This article holds theoretical and practical significance for specialists, researchers, and public administration representatives dealing with currency policy and macroeconomic stability.