BAKU, Azerbaijan, Apr. 14
By Ilkin Seyfaddini – Trend:
The Central Bank of Uzbekistan cut the interest rate by one percentage point and set it at 15 percent per annum, Trend reports citing a statement of the Central Bank of Uzbekistan.
"In accordance with the decision of the extraordinary meeting of the Central Bank Board on April 14, 2020, the main rate of the Central Bank was reduced by one percentage point and set at 15 percent per annum," the message said.
At the end of 2019, the Central Bank of Uzbekistan announced the introduction of the interest rate at 16 percent from January 1, 2020.
In March, citizens' demand for foreign currency grew by 45 percent. Banks in Uzbekistan give already 9,840 soum for one dollar, on April 14.
According to the Central Bank, the probability of a sharp devaluation of the national currency remains low, and according to preliminary forecasts, in the short and medium term, the dynamics of the Uzbek soum exchange rate will be formed close to its fundamental trend with minor fluctuations.
The Central Bank also reports that the cash offices of commercial banks have sufficient foreign currency cash to carry out conversion operations and all banknotes are disinfected. The exchange offices of banks operate in the normal mode and there are no limits and restrictions on the purchase and sale of foreign currency in cash by banks.
---
Follow author on Twitter: @seyfaddini