Baku, Azerbaijan, Oct. 6
By Ali Mustafayev – Trend:
Precarious situation on the Uzbek currency markets prompted the country’s government to take effective measures against the black currency market, which remain a significant obstacle for the banking sector of Uzbekistan.
“The decree on battling of illegal operations and circulation of foreign currency, signed by President Shavkat Mirziyoyev in early September involves the participation of the General Prosecutor’s office, State Tax Committee and Ministry of Internal Affairs. Presently, the mentioned organizations strengthen the methods of eliminating of the black currency market,” a source in the Central Bank of Uzbekistan told Trend.
The source added that the Uzbek government actively supports the purchase and sale of foreign currency in local banks and currency exchange points.
“The commercial banks operate with foreign currency based on license on conduction of banking activities. The exchange of foreign currency is available in any of the country’s banks, which lowers the demand on black markets and revitalizes the currency system of the country.”