Contents Introduction Chapter I. Theoretical foundations of currency regulation

Currency Exchange Rate Update Date 2019-04-23

Currency	Code	CB	Buy	Sell
1 US Dollar	USD	8441.36	8420.0	8480.00
1 Euro	EUR	9493.15	9400.00	9580.00
1 Russian Ruble	RUB	131.78	107.00	132.00
1 Pound Sterling	GBP	10963.64	10860.00	11070.00
1 Swiss Franc	CHF	8321.53	8240.00	8400.00
1 Japan Yen	JPY	75.43	75.00	76.40
1 Kazakhstan Tenge	KZT	22.26	17.00	23.00
1 Australian Dollar	AUD	6037.26
1 Canadian Dollar	CAD	6304.23
1 Yuan Renminbi	CNY	1259.30

Source: https://nbu.uz/en/exchange-rates/

3.2. The role of banks in carrying out currency operations in Uzbekistan

One of the most important role of Central bank is issuing currency. For issuing currency, the Central bank has to maintain certain amount of reserves in the form of gold and foreign exchange.
The National Bank carries out a wide range of activities covering almost all areas of domestic and international banking operations and develops modern banking technologies that allow providing banking services at the level of international standards. Moreover, there are 2 banks including “Kapitalbank” and “Ravnaq-bank” which have rights to carry out currency operation in the territory of Uzbekistan. Their role substantial in carrying out the Acquisition of currency values or their legal exclusion of the resident from the resident, the Use of currency valuables and securities as means of payment, the Acquisition of currency values or their legal disposition by non-residents from non-residents, the import into the customs territory of the country of currency values, currency and internal securities, currency transfers to accounts inside the country and abroad.
The National Bank for Foreign Economic Activity of the Republic of Uzbekistan provides to millions of its customers efficient and high-quality banking services, including remittance transfers. In particular, the bank offers its customers the possibility to carry out remittance transfers in foreign currency, using international systems of instant remittances. As of the end of the first half of this year, the volume of international remittances, made through the bank, amounted to 29.9 million dollars.
The National Bank for Foreign Economic Activity of the Republic of Uzbekistan has been offering services for remittance transfers through international systems of financial transactions since 2002. Remittance services are available in all 95 branches of the bank. The clients can make transfers through the systems of “Aziya-Ekspress”, “Western Union”, “MoneyGram”, and “Zolotaya Korona”.
As of today, the National Bank of Uzbekistan conducts operations on remittance transfers in five foreign currencies: the dollar, the yens, the euros, the pounds, as well as in the roubles. In order to make a transfer, an account is opened, and a certain sum of money is paid in. If the remittance is made from the Russian Federation, the money received will be converted in any currency, as specified by the client, says Deputy Manager of the Central Operational Department of NBU Shakhzod Yusupov.
It is to be noted that “Aziya-Ekspress” — the system for international remittances — was devised by an ad hoc subsidiary of the National Bank of Uzbekistan, “Aziya-Invest bank”. This system was specifically designed to execute remittances from Uzbekistan to the Russian Federation, and vice versa. Since the very creation of the remittance service, more than 1 billion dollars have been transferred, with over 1.6 million operations executed. 
“According to the UNCTAD's 2018 World Investment Report, FDI inflows slightly decreased drastically in 2017 to USD 96 million. The World Bank also claims investment growth moderated from 9.5% in 2016 to 7.1% in 2017. This represents a 27.82% drop from 2016 levels (133 million), but strong investments in renewable energy anticipate a much stronger FDI outlook going forward (444% FDI increase from 2017 to 2018) (FDI Intelligence). FDI traditionally arrives from Russia, South Korea, China and Germany, but Canada increased its financial presence in 2018. Investments focus on the energy sector, including alternative/renewable energy in recent years. Total FDI stock of FDI stood at USD 9.3 billion (13.5 % of GDP ) in 2017.”²⁴