On the basis of the resolution of the Kengash of the Senate of the Oliy Majlis of the Republic of Uzbekistan dated August 14, 2017 No. ПК-218-III, the Central Bank in coordination with the Council of the Senate of Oliy Majlis approved the sample and the design of a new 50 000 (fifty thousand) soum banknote.
Under the relevant resolution of the Board of the Central Bank's, the new bill will be introduced in circulation from 22 August this year.
According to a report published on the website of the Central Bank, the introduction of new banknotes into circulation was made taking into account the growth of average wages in the country in recent years, and in order to create conveniences in the payment of wages, pensions and benefits to the population, and settlement in cash.
New banknotes will not lead to a change in the money supply in the economy and will not affect the level of inflation and price stability, the Central Bank said.
Thus, this practice gives the opportunity to:
- reduce the costs and inconvenience of making payments in cash, transportation of cash, their delivery and storage;
- expand the services provided to the population through ATMs.
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