Mirzaev noted that the volume of gold and foreign exchange reserves of Uzbekistan exceeds US$20 billion, which is enough for two years of imports.

At the same time, he added that the Fund for assisting to price stabilization in internal consumer market will fight the negative effects of inflation in the course of currency reforms.

He recalled that the Fund’s resources will amount to US$100 million. These funds will be used to stabilize prices for essential goods.

Deputy Chairman of the Central Bank of Uzbekistan Saidkamol Khujaev noted that Uzbekistan already took the first step to liberalize the foreign exchange market.

He recalled that banks received the right to sell hard currency at market prices to legal entities. Soon, individuals will also have the opportunity to buy currency at market prices from the commercial banks. He added that the experts are working on this direction.