Currency of the Republic of Uzbekistan (national currency) means the monetary unit of the Republic of Uzbekistan (soum)

Tijorat banklarini operatsiyalarining turkumlanishi va turlari
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Normurodov Suxrob

Currency of the Republic of Uzbekistan (national currency) means the monetary unit of the Republic of Uzbekistan (soum).

What is a currency?
Copyright © Ye. Akhunova, 2022

Currency of the Republic of Uzbekistan (national currency) means the monetary unit of the Republic of Uzbekistan (soum).

Foreign currency means banknotes which are authorized medium of circulation and a legal tender of cash payment in the territory of a foreign state (group of foreign states), and also banknotes which are withdrawn or those to be withdrawn from circulation with subsequent exchange, as well as funds in bank accounts and deposits in monetary units of foreign states (group of foreign states) or in international monetary or settlement units.

What is exchange rate?
Copyright © Ye. Akhunova, 2022
An exchange rate for operations on the purchase and sale of foreign currency in the territory of the Republic of Uzbekistan shall be determined on contractual base, proceeding from supply of and demand for foreign currency.
Upon determination of the exchange rate of the currency of the Republic of Uzbekistan against foreign currency, exclusively market mechanisms shall be used.
The Central Bank shall provide for the creation of conditions for the determination of the exchange rate upon establishment of the procedure for purchase and sale of foreign currency, proceeding from the demand for foreign currency and its supply.
The Central Bank shall regularly set the exchange rate for the purposes of accounting, statistical and other reporting on currency operations, as well as for the calculation of customs and other mandatory payments in the territory of the Republic of Uzbekistan.
1. Essence of currencies and currency operations