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Wednesday, 17 April 2002
TASHKENT MOVES TOWARD CONVERTIBILITY
By empty (4/17/2002 issue of the CACI Analyst)
Uzbekistan's official commercial exchange rate plunged from 920 soms per dollar to 1,400 soms per dollar on 15 April as banks set their exchange rates practically to match the real, black-market rate. The black-market rate stands at about 1,450 soms per dollar. Unification of currency exchange rates by the end of June 2002 is a key requirement of the IMF structural reform plan that Tashkent agreed to earlier this year.
Uzbekistan's official commercial exchange rate plunged from 920 soms per dollar to 1,400 soms per dollar on 15 April as banks set their exchange rates practically to match the real, black-market rate. The black-market rate stands at about 1,450 soms per dollar. Unification of currency exchange rates by the end of June 2002 is a key requirement of the IMF structural reform plan that Tashkent agreed to earlier this year. (Uzreport.com)