Markets
13/08/2025

IMF Mission Reviews Operations of the Uzbek Republican Currency Exchange

Tashkent, Uzbekistan (UzDaily.com) — The Uzbek Republican Currency Exchange (UzRCE) hosted a meeting with members of the International Monetary Fund (IMF) mission conducting an assessment and analysis of Uzbekistan’s foreign exchange market. The delegation was led by mission chief Mak Istvan.

Opening the event, UzRCE General Director Rashid Usmanov provided the guests with a detailed overview of the exchange’s activities, existing trading platforms and range of financial instruments, as well as the spectrum of services offered. He highlighted key achievements in recent years, including the growth in trading volumes, the launch of new instruments—particularly in the derivatives market—and the introduction of modern technologies and trading mechanisms.

During the discussions, IMF representatives praised the UzRCE’s contribution to the development of the national foreign exchange market’s infrastructure and the improvement of trading procedures, noting that the approaches used are in line with international standards.

Special attention was given to the role of market makers in ensuring liquidity, mechanisms for their incentivization, and ongoing support programs.

The presentation also covered the operations of the National Clearing Center, established with UzRCE’s participation, which serves as the central counterparty and operates a comprehensive risk management and default prevention system.

At the conclusion of the meeting, IMF representatives received answers to all their questions and commended the transparency, advanced technological development, and dynamic improvement of Uzbekistan’s exchange infrastructure.