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Banking reform going on: Uzbekistan may allow purchasing cash foreign currency

Business Materials 16 July 2018 10:43 (UTC +04:00)

Baku, Azerbaijan, July 16

By Fikret Dolukhanov – Trend:

Citizens of Uzbekistan will be able to buy foreign cash currency in the future, Uzbek media reported citing Director of the department of Central Bank Bobur Abubakirov as saying during a briefing in Tashkent.

“We will definitely begin the sale of cash to the citizens. There is now a decreasing need for it, since everyone is exchanging foreign currency for sums. The process will definitely take a little time but I think it is not far off,” Abubakirov said.

He reminded that the republic's banks are currently providing services for exchange of foreign currency to the national through special cash desks, where only two persons, a cashier and an observer, work. Such cash desks are equipped with special banknote damage detectors, which reveal percentage of their damage.

Each bank decides which commission fee to charge from a damaged banknote, since they are all subjects of entrepreneurship.

Currently, there are about 1,000 exchange offices in Uzbekistan, with 300 of them working 24/7 for self-service of citizens. Over 1,000 additional exchange offices will be opened for tourists in the future.

The Finance Ministry of Uzbekistan earlier reported that it became possible to open accounts in the national currencies of the CIS countries in Uzbekistan.

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