Situation in domestic currency market remains stable - Central Bank
Click here to read full article from source
Tashkent, March 26 -- The Central Bank of Uzbekistan stated that the situation in the domestic currency market remains stable and balanced under the current exchange rate dynamics and current economic conditions.
According to the national regulator, this can be explained by the following factors:
- the global recession, along with measures aimed at fighting the pandemic, led to a decrease in economic activity of the population. As a result, there is a reduction in demand for imports and foreign currency;
- it is expected that the demand for banks ' credit resources will significantly decrease in comparison with the initially forecasted level. Again, this is due to a slowdown in economic growth and measures to revise the schedule and ex...
To read the full article or to get the complete feed from this publication, please Contact Us