On Currency Regulation

The President of the Republic of Uzbekistan signed the Law on Currency Regulation (new edition) (No. ZRU–573, October 22, 2019)

According to this, the Central bank is the state currency regulation authority.

The Central Bank, within its powers:

adopts legal acts binding upon non-residents on the territory of the Republic of Uzbekistan, as well as residents on the territory of the Republic of Uzbekistan and abroad;

defines the rules for foreign exchange transactions;

carries out licensing and regulates the activities of currency exchanges;

carries out other tasks.

The exchange rate for operations on the purchase and sale of foreign currency on the territory of the Republic of Uzbekistan is determined on a contractual basis, based on the supply and demand for foreign currency. The soum rate in relation to foreign currency is determined entirely by market mechanisms.

Besides, residents have the right to transfer foreign currency from their accounts at banks of the Republic of Uzbekistan or at banks outside the Republic of Uzbekistan to their accounts at banks of the Republic of Uzbekistan without restrictions.

The purchase and sale of foreign currency by residents and non-residents on the territory of the Republic of Uzbekistan is carried out exclusively through banks of the Republic of Uzbekistan, and the purchase and sale of foreign currency on the interbank foreign exchange market is carried out exclusively by banks of the Republic of Uzbekistan and the Central Bank.