Uzbekistan devalues currency by 50% overnight…

As markets opened on 5 September 2017, Uzbeks were in for a surprise as the currency opened  at 4200 soms compared to 8100 soms a day earlier.It was a long overdue move and welcomed. SO much so one person sayd to declare 5 Sep as a national day:

Even normally level-headed experts like Yuliy Yusupov were exuberant.  
“I don’t think it would be a bad idea to make September 5 a holiday — Convertibility Day. Outsiders wouldn’t understand. … For 21 years we’ve been waiting,” Yusupov wrote on Facebook.

More links  here:


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