Relaxes capital controls on foreign currency
02 Sep 2017
On 2 September 2017, the President issued a decree relaxing capital controls on foreign currency for businesses and individuals. Enterprises registered in Uzbekistan are now permitted to buy and sell currency for any purpose, including imports and the repatriation of profits (previously subject to controls). Formerly, enterprises were obliged to buy hard currency at a rate approximately twice as high as the rate at which they could sell it, and exporters were required to sell a quarter of their hard-currency revenue to the State. The decree also bans payments in hard foreign currency for goods and services inside Uzbekistan.
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Treatment and operation (Capital transfer and FOREX)
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