DUSHANBE, July 25, 2016, Asia-Plus /Zarina Ergasheva/ — Tajikistan does not have cash shortage problems, Jamshed Nourmuhammadzoda, the head of the National Bank of Tajikistan (NBT), told reporters in Dushanbe on July 25.
According to him, Tajik central bank has increased cash volumes in market by 25 percent over the first six months of this year.
“A total volume of cash in Tajikistan now amounts to 6.6 billion somoni,” Nourmuhammadzoda said.
“The country’s economy and business are adapting to reforms we have been carrying out since the beginning of the year. This concerns, first of all, ban on use of foreign currency in Tajikistan. This has caused increase in demand for the national currency and we have increased its volumes in the circulation in order to meet demand for the national currency in the country.”
Nourmuhammadzoda noted that that mechanism had assisted Tajik central bank to keep the somoni exchange rate “at the stable level.”
According to data from the National Bank of Tajikistan, the Emission Fund has provided 2.1 billion somoni over the first six months of this year, which was 1.2 billion somoni more than last year.
Besides, 727 million somoni of dilapidated banknotes have been immobilized in Tajikistan over the same six-month period.
Meanwhile, local experts note that Tajikistan’s banking system is currently in doldrums and cash shortage is one of the reasons for crisis in the country’s lending institutions.
