Contents Introduction Chapter I. Theoretical foundations of currency regulation

Conclusion
In order to protect and ensure the stability of the national currency, to achieve its convertibility, suspend capital flight abroad, ensure foreign exchange earnings from foreign trade transactions, to stimulate the development of the domestic foreign exchange market with a view to economic potential and enhancing the role of the Republic of Uzbekistab in the system of international relations, the state needs to create an effective legal mechanism for currency regulation. These are necessary to develop a system of economic relations linking the subjects of these relations in the process of interlinked monitoring, analysis and management of cross-border currency transactions in order to develop administrative and economic measures implemented by the state to ensure the stability of the country's balance of payments. Achieving an effective mechanism of currency regulation can be achieved by using various administrative and market instruments that many countries rely on. But since currency regulation and currency control have a very large-scale impact on the economic life of a society, their development must be distinguished by consistency, logic, stability and balance. Any ill-considered, careless actions in this area can lead to negative consequences. At the last stage of development of currency regulation, the Republic of Uzbekistan and the Central Bank of Uzbekistan implemented a set of measures in a short time, allowing a smooth transition from a ban on foreign exchange operations to the accounting and monitoring of foreign trade and investment activities of Uzbek participants of foreign economic activity, but there are also advantages and cons.
In favor of changing the currency regulation regime, we can say that the existing currency regime is not sufficiently effective, large-scale capital flight continues, currency regulation in its current form creates a problem of excess liquidity, which in turn causes the threat of accelerated price growth, etc.
A change in the currency regulation regime can lead to inflation, but it can be controlled through a policy of accelerated payments on foreign debts, i.e. not only are debts paid in accordance with the schedule, but efforts are being made to create reserves for future payments. The second way, to which, in fact, advocates of immediate liberalization call, is that the majority of foreign exchange earnings are left in the foreign currency accounts of exporters who believe that later on the “excess” capital will be taken out and, thus, the problem will disappear by itself. And the third way is to painstakingly work on the formation of institutions and mechanisms that can move this excess money into the economy in order to accelerate economic growth. In this case, the excess capital will cease to be such, effectively “working” on the domestic economy. Yes, indeed, the creation and implementation of a mechanism for financing the real sector of the our economy at the expense of the now excessive sum liquidity is an extremely difficult task. But this is the only normal way to solve this problem.
Thus, our state needs to create an integrated system of currency regulation and currency control, providing a flexible approach to solving problems arising in the implementation of the state’s economic policy and regulating currency operations both in the domestic foreign exchange market and in the foreign economic sphere.