Uzbekistan: Black Market Stifling Entrepreneurs

The official bank exchange rate in Uzbekistan is about two-thirds of the black-market rate. (Photo: Murat Sadykov)

The existence of multiple exchange rates for foreign currency in Uzbekistan is stifling economic activity. The case of Sanobar, a former merchant, helps illustrate how government currency policies are putting the squeeze on budding entrepreneurs.

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Uzbekistan: Black Market Stifling Entrepreneurs

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