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Central Bank of Uzbekistan

News about Central Bank of Uzbekistan: events, facts and developments on tafs uz.

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Uzbekistan's Central Bank refutes rumors about issuing a 1 million sum banknote

The Central Bank of Uzbekistan has categorically refuted reports about plans to issue a banknote with a denomination of 1 million sums, calling them fake. A counterfeit design of the note depicting the country's first president was circulating on social media. The regulator reminded that the issuance of new money is strictly regulated by law and is always officially announced. At present, the largest note in circulation remains 200,000 sums. This is not the first time the agency has had to refute rumors about large denominations.

2 min read

The soum depreciated by 2% over nine trading sessions, returning the dollar rate to its highest level since July 31

The Uzbek soum has been losing value against the dollar for nine consecutive trading sessions: from October 3 to 16, the rate rose from 11,772.95 to 12,011.65 soums (+238.7 soums, about 2%). Economist Mirkomil Kholboev links this to the dollar's strengthening on the global market amid the US Federal Reserve's policy tightening, and also names three possible domestic factors, emphasizing that there is no confirming data yet.

3 min read