Uzbekistan to liberalize currency regulations starting September 5

Uzbekistan to liberalize currency regulations starting September 5

Uzbekistan says it will liberalize its currency regulations, no longer fixing the som to the U.S. dollar and removing restrictions on the amount of foreign currencies individuals and companies can buy.

The government in a website posting on September 3 said the move would take effect on September 5, RadioFreeEurope/RadioLiberty reports.

Reports said last week that the currency actions were imminent.

The government decree said that instead of automatically pinning its currency -- the som -- to the U.S. dollar, it would allow its value to be determined by market forces.

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