Uzbek central bank denies currency reform

- Central Banking staff
- 19 Mar 2004

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First Deputy Chairman of the Uzbek central bank Muhammad Jumageldiyev has dismissed rumours that Uzbekistan is planning to replace its existing currency denominations.

"There are no economic grounds for such talk, since our currency has markedly strengthened over the past few years," the UzrReport web site quoted him as saying.

According to Jumageldiyev, the national currency, the som, was made convertible in 2003 and there were no longer currency restrictions in the country.

He went on to say the

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