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Uzbekistan: Currency Rules Change Marks Momentous Turning Point

Starting from this month, regular Dilshods or Madinas in Uzbekistan will no longer have to skulk around sketchy spots in the bazaar to buy and sell foreign currency.

On August 31, Reuters news agency cited two sources in the banking sector as saying that people will soon be able to convert their cash in banks and exchange bureaus.

This development will be greeted with delight by all segments of society — from the poorest dependents of cash remittances from migrant laborers to many prosperous entrepreneurs. It will also make life easier for independent tourists who have long been puzzled by Uzbekistan’s idiosyncratically shady currency market. Less happy will be the black marketeers who have made countless millions — not to say billions — of dollars over the years on the underground exchange market.

The clues were there to see.

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Uzbekistan: Currency Rules Change Marks Momentous Turning Point

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