What is needed to pursue an independent monetary policy, fight against “dollarization” and win the confidence of the population and investors in the national currency, says economist Behzod Hoshimov. Continue reading What is a monetary policy, or why an independent central bank is needed?
Since June 28, the Board of the Central Bank has raised the refinancing rate to 14% per annum. What is the reason for such a decision and how will it affect the economy?
Refinancing rate (or discount rate) is the percentage at which central banks issue loans to commercial banks. This is a very important monetary policy tool that allows central banks:
– to regulate the level of inflation (the higher the discount rate, the lower the money issue, as money becomes “expensive”),
– to influence the level of bank interest rates (the cheaper commercial banks can “buy” money from the Central Bank, the cheaper loans for business and the population). Continue reading The growth of the refinancing rate – the beginning of tough reforms in the country’s economy
Since March 10, 2017, the Central Bank of the Republic of Uzbekistan issues new banknotes in the form of banknotes worth 10,000 soums. Banknotes of the Central Bank of the Republic of Uzbekistan worth 10,000 soums are made on protected paper with a size of 144 x 78 mm. On a broad white field on the right side of the banknote there is a watermark in the form of the Republic of Uzbekistan’s coat of arms and the figure “10000”. On the left side of the white field is located in the thickness of the paper a diving protective thread with a window and 3D effect. Continue reading 10 thousand soum you can see on March 10 “SENATE – more expensive by 5 thousand than the Oliy Majlis”
Ушбу савол мана бир неча йилда бери мамлкатимиз аҳолисини қийнаб келаётганлиги ва куни кеча 14 январь бўлиб ўтган “Вазирлар Маҳкамасининг мамлакатимизни 2016 йилдаги ижтимоий-иқтисодий ривожлантириш якунларини ҳар томонлама таҳлил қилиш ҳамда республика ҳукуматининг 2017 йил учун иқтисодий ва ижтимоий дастури энг муҳим йўналишлари ва устувор вазифаларини белгилаш”га бағишланган кенгайтирилган мажлисида кўтарилгани боис алоҳида изоҳлаш лозим деб топилди. Continue reading Why in Uzbekistan there is a difference between cash and non-cash payments? (in Uzbek)