Tajikistan to open exchange points on border with Uzbekistan, Kyrgyzstan

Central Asia Materials 16 February 2018 09:20 (UTC +04:00)

Baku, Azerbaijan, Feb. 16

By Nigar Guliyeva – Trend:

The National Bank of Tajikistan (NBT) intends to open exchange offices on the borders with Uzbekistan and Kyrgyzstan, Tajik media reported.

"In the near future, currency exchange offices operate near the control points on the borders of Tajikistan with Uzbekistan and Kyrgyzstan," the representative of the National Bank in Sughd region told local media.

The exchange of currency will be performed by credit organizations taking into account the fact that the activities of private currency exchange offices are prohibited in Tajikistan.

The National Bank explained that this will help improve the situation when, the citizens of neighboring countries had to exchange currency on the black market due to the lack of exchange points on the border.

On Saturday and Sunday, when banks and credit organizations do not work, it is difficult to exchange US dollars, euros or rubles on border areas.

In spring 2015, all private exchange offices were closed by the order of the NBT, citing the need to assure the "stability" of Tajikistan’s currency market, the somoni exchange rate, and "the protection of the interests of clients of credit organizations.". Even earlier, the National Bank stopped the direct sale of the US dollar and the euro to the population due to unrests that occur at currency selling points.

More than half of Tajikistan’s exchange offices – 818 out of a total of 1,581 – were shut down, leaving 763 operating. In late 2015, the rest were shut down as well, leaving commercial bank offices as the only legal place to exchange currency in the country.