Reports have been circulating across several social media platforms claiming that Uzbekistan plans to introduce a 500,000-soum banknote featuring the portrait of Mirzo Ulugbek.
The regulator clarified that this information is entirely groundless and does not correspond to reality.
"Currently, the Central Bank of the Republic of Uzbekistan is not considering the issuance of any new banknotes into circulation," the Central Bank stated in its official commentary.
Under Article 39 of the Central Bank Law, the nominal value of currency units in Uzbekistan shall be determined strictly by the regulator.
Furthermore, according to Article 40 of the same law, the Central Bank holds the exclusive right to issue currency notes and coins as legal tender within the country. Following confirmation and approval of new currency designs by the Senate, the Central Bank officially are required to publish descriptions of the new banknotes and details regarding their release dates in the mass media.
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