The Central Bank of Uzbekistan published a comment on the issue of banknotes with a value of 50,000 soums.

The regulator noted that the introduction of banknotes with nominal value of 50,000 soums was carried out taking into account the growth of average wages in Uzbekistan in recent years.

New bill is introduced into circulation in order to create amenities for payment of wages, pensions and benefits to the population, and making payments in cash.

"It should be specially noted that emission of large banknotes in circulation will not lead tochange in the money supply in the economy and will not affect the level of inflation and price stability," the Central Bank said in the statement.

Introduction of new banknote will reduce costs and inconveniences, when making payments in cash, transporting cash, delivering and storing it. It will also expand the scope of services rendered to the population through ATMs, the Central Bank said.