Tajikistan to Close Currency Exchanges in Panic Move
Tajikistan’s central bank is adopting measures to close all money exchange points as the national currency is driven further to the verge of collapse.
The government order, which is to be published this week, will allow only authorized banks to effect currency exchanges, which will also be limited in amount.
The move is expected to drive money-sellers undergroud and force businesses desperate for cash to rely on an unregulated black market.
The National Bank of Tajikistan has said that its analyses have shown that bureaux de change are speculative hiking rates and profiting from market instability.
It said in a statement that six people have been detained in Dushanbe for allegedly rigging rates, prompting the closure of all the country’s 1,400 exchange offices.
Buying and selling foreign denomination, which is typically dollars in Tajikistan, outside the authorized points will incur criminal prosecution for all parties involved.
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