21 August 2019

Important changes in the financial market of Uzbekistan

The Central Bank of the Republic of Uzbekistan has announced that it will not establish prices for the sale and purchase of currency, this price will be set independently in the market. It was decided to cancel the 0.5 percent range of exchange rate fluctuations in interbank trading sessions. In addition, from August 20, commercial banks began selling cash currency through exchange offices.

“The surest way is to increase competition and investment freedom in the economy. In other words, if we step by step get rid of monopoly and corruption in foreign trade and in the domestic market, increase investment attractiveness and support entrepreneurs without interfering with their activities, then healthy competition that has arisen in the domestic market will help to bring the economy out of the “bout of inflation” – stated Chairman of the Central Bank Mamarizo Nurmuratov.