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Central Bank of Uzbekistan keeps refinancing rate at 14% APR

Business Materials 22 March 2010 17:24 (UTC +04:00)
Central Bank of Uzbekistan kept refinancing rate at the level of 14% APR, said in the Bank’s press release.

Uzbekistan, Tashkent, March 22  / Trend Сapital, D. Azizov /

Central Bank of Uzbekistan kept refinancing rate at the level of 14% APR, said in the Bank's press release.

The Board of the Central Bank of Uzbekistan adopted a corresponding resolution March 6 2010.

The refinancing rate of the Central Bank was unchanged based on main directions of monetary policy for 2010 and actual and expected inflation rate.

According to official statistics, inflation in Uzbekistan in 2009 amounted to 7.4 percent compared to 7.8 percent a year before. In 2010, inflation is planned to be kept at 7-9 percent.

Uzbek banking system is represented by 30 banks, three of which are public, five - with the participation of foreign capital, 11 - equity and 11 - private.

In 2009, total assets of commercial banks increased by 30.2 per cent - to 15.703 trillion soums, the total credit portfolio - by 34.3 per cent - to 8.557 trillion soums, the total equity capital - by 38.7 percent - to three trillion 10.4 billion soums.

The official exchange rate March 22 is 1546.99 soums to $1.

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