DUSHANBE, May 24, 2015, Asia-Plus – Uzbekistan is reportedly restricting access to dollars for the business community.
Some media outlets reported on May 20 that the National Bank of Uzbekistan has halted all convertibility operations for an unspecified period. However, there was no confirmation on the Uzbek central bank’s website.
Eurasianet.org noted on May 20 that, “These are the operations through which foreign and domestic companies convert their revenues earned in Uzbekistani sums into dollars, to repatriate earnings and pay for imports.”
Eurasianet.org quoted Uzmetronom.com as reporting, “Thus foreign investors and local entrepreneurs who depend on supplies from abroad (raw materials, parts, equipment and so on), who could still recently count on at least minimal levels of profit conversion within the limits of the quotas set for them, are now deprived of this opportunity.”
Meanwhile, Uzmetronom.com says that Uzbek central bank’s press center reported on May 22 that the procedure of conversion of the national currency in the foreign currency is carried out by commercial banks in accordance with established order.
