During a press conference held on October 26 to discuss the current macroeconomic situation and future economic indicators, journalist Abror Zohidov raised the question of whether it could be a viable solution to address the long queues in banks for currency exchange by permitting non-banking organizations or individuals to establish currency exchange offices.
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Central Bank Chairman Mamarizo Nurmurodov responded by stating that there are no plans to allow non-banking organizations to engage in currency exchange.
"The Central Bank has its firm position in this regard. We do not intend to allow legal entities and individuals, that is, non-banking organizations, to open currency exchange offices. Each bank develops currency exchange offices based on its needs. The Central Bank does not have the authority to impose requirements on them to open additional currency exchange offices or to increase such offices," said the head of the bank.
Notably, in line with President Shavkat Mirziyoyev's decree regarding the first priority measures to liberalize currency policy, effective from September 5, 2017, the sale of foreign currency to citizens and entrepreneurs has been freely and limitlessly available in Uzbekistan's banks.
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