Rus News Journal

In Uzbekistan the currency monopoly

Uzbekistan is entered: the government has forbidden the free currency market

Since November, 1st, 1992 in Uzbekistan comes into force the Instruction on carrying out of bank operations on a currency exchange for private persons according to which all currency cash is transferred in establishments of the Central bank of republic Uzbekistan. Since October, 16th, after an exit of the order of the Central bank About transfer of exchange offices to the Central bank of Uzbekistan local banks have stopped operations on buying up and HARD CURRENCY sale.

By estimations of observers, in Uzbekistan there is a consecutive and fast return to full currency monopoly for which the republican Central bank frankly applies. In republic the order on which exporters sell 60 % of a currency gain to the Central bank of Uzbekistan at the rate of 1,67 roubles for dollar (!) till now operates That in any way does not stimulate replenishment of currency accounts of the Uzbek exporters. Besides, the Uzbek banks, in difference, for example, from Russian, sold to private persons at a market rate no more than $200 and only after a presentation of the international passport with the exit visa.
the prepared instruction of the Central bank of Uzbekistan in the conditions of obvious deficiency of the statutory acts regulating currency calculations, continues currency market suppression.
establishments of the Central bank carry out reception of cash currency from clients of commercial banks who check the maintenance of settlement documents on currency reception. Delivery of cash currency to the physical person is made on the basis of the statement under the certain form, permissions to currency and international passport export.
efforts of the Central bank of Uzbekistan were at the bottom of sharp jump of courses of HARD CURRENCY in the black market of cash sales in Uzbekistan. After banks have stopped dollar exchange rate growth to trade in currency, for some days has made about 50 points. The black market became a unique source for purchase and HARD CURRENCY sale.
according to experts, a currency revenge the governments automatically will strengthen Uzbekistan on positions of one of the most powerful sources of cash rouble interventions in other states of a rouble zone and first of all to Russia. In - the second, the Uzbek currency market appreciably will turn black .
Observers believe that such step on return to actual monopoly of currency trade can become a start of motion to an adverse mode in general for commercial activity of the structures which are not concerning a state sector. Thus possibility " is not excluded; internationalisations the Uzbek variant in other regions.
Under the information from bank circles, the Central Bank of Russia attentively observes of a situation in Uzbekistan.