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Uzbekistan’s banks buy 4 times more dollars from population than sold

Finance Materials 22 October 2019 17:31

BAKu, Azerbaijan, Oct. 22

By Fakhri Vakilov-Trend:

The banks of Uzbekistan sold $234.5 million in cash to the population and bought almost four times more from Aug. 20 to Oct. 20, Trend reports citing Uzbekistan’s Central Bank.

The volume of foreign currency purchased by banks from the population over the same period amounted to $868.7 million.

From Aug. 20, the country's banks began selling foreign currency in cash to the population through exchange offices due to a sharp inflation of the national currency. Prior to this, currency could only be purchased on cards. On the first day, banks sold nearly $10 million in cash.

Furthermore, the Central Bank allowed banks to sell currency to the population of up to $ 100 without a passport.

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