RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of June 29, 2000 No. 245

About measures for further development and strengthening of the curb foreign exchange market

For the purpose of ensuring further development and strengthening of the domestic curb foreign exchange market, expansion of sources and amounts of receipt of foreign currency and increase in efficiency of use of the currency Cabinet of Ministers resources decides:

1. Accept the offer of the Central bank and Ministry of Finance of the Republic of Uzbekistan on introduction since July 1, 2000 of the mechanism of sale of foreign currency in the curb foreign exchange market providing:

purchase by commercial banks from the clients of available currency funds on contractual basis on free rate, proceeding from the demand and supply of foreign currency;

2. Ceased to be valid according to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of 08.01.2018 No. 16

3. Determine that in the domestic foreign exchange market:

commercial banks open for the clients separate currency accounts for accounting of own and acquired means in foreign currency;

the foreign currency purchased by authorized banks according to requests of clients, not uses within fifteen working days, is subject to unconditional return sale. To Central Bank to establish strict control over the implementation of this requirement by commercial banks and business entities, irrespective of pattern of ownership, the purposes and sources of acquisition of foreign currency.

4. Ceased to be valid according to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of 14.05.2020 No. 283

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