Baku, Azerbaijan, September 19
By Nargiz Sadikhova - Trend:
The regulations of the procedure on withdrawal of coins and banknotes denominated 25 soums and less from circulation has been approved in Uzbekistan, Trend reports with reference to Uzbek media.
“This regulaton has undergone the state registration in the Ministry of Justice of Uzbekistan on September 18, 2019,” the report said.
“The regulation applies on the coins denominated 1, 3, 5, 10, 20 and 50 tiyins, and 1, 5, 10, 25 soums, as well as the banknotes of old type (paper money) denominated 1, 3, 5, 10, 25 soums. All the mentioned coins and banknotes lose their power as legitimate means of payment starting from March 2020,” the statement said.
The mentioned above coins and banknotes can be exchanged on cash and settlement centers, commercial banks and their branches before March 1, 2020. Starting from this date, the withdrawn coins and banknotes will only be exchanged by cash and settlement centers. At the same time, the withdrawn coins and banknotes shall be exchanged with no refusal, restiriction, payment or the fee for mediation.
The framework of the conversion of coins and banknotes of old types, which are to be withdrawn, is set before January 1, 2021.
---
Follow the author on twitter: @nargiz_sadikh