Uzbekistan to press ahead with forex reforms
Authorities plan to “frontload” efforts to unite black market and official exchange rates
Uzbekistan is preparing to move to a new monetary policy framework, as authorities plan to unite the country’s exchange rates and allow the currency to float.
The som currently trades at an official exchange rate of UZS4,070:$1, but according to uzdollar.com, which collates reported black market rates, som are changing hands on the street at rates higher than UZS8,000:$1.
An International Monetary Fund mission to the country made its initial report on July 24, welcoming the authorities’ plan
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