Central Bank of Uzbekistan dismisses info about suspending currency exchange
Tashkent, Uzbekistan, May 23
By Demir Azizov- Trend:
The Central Bank of Uzbekistan has dismissed the information spread by some foreign media outlets about suspending the conversion of the national currency in commercial banks of the country.
"Press service of Uzbekistan's Central Bank said that the procedure of conversion of the national currency into the foreign currency is carried out by the commercial banks in accordance with the Article VIII of the Articles of Agreement of the International Monetary Fund," said the message.
Uzbekistan joined the IMF in 1992. The organization's representative office has been operating in the country since 1993. Uzbekistan undertook obligations under Article IV of the IMF charter and introduced the conversion of the national currency - the soum - in autumn of 2003. In the same year, Uzbekistan undertook all obligations under Article VIII of the IMF charter which envisages conversion on the current accounts.