New convenience in currency purchases: limit increased fivefold

In Uzbekistan, the procedure for purchasing cash foreign currency has been simplified. Starting August 9, individuals are not required to present an identity document when purchasing foreign currency worth up to 500 US dollars from commercial banks.

Previously, this option applied only to transactions of up to 100 dollars. In other words, the limit for purchasing currency without documents has increased fivefold at once.

No documents required for purchases of up to 500 dollars

Under the new procedure, if a citizen purchases 500 US dollars in cash, or another foreign currency equivalent to that amount, from a bank cashier, they will not be required to show an identity document.

For example, if a customer wants to purchase euros or another foreign currency instead of dollars, the same concession applies as long as its value does not exceed the equivalent of 500 dollars.

This will significantly simplify the process, particularly for citizens purchasing currency for travel, daily needs or in small amounts.

What was the limit previously?

Until now, the limit for purchasing cash foreign currency without an identity document had been restricted to the equivalent of 100 US dollars.

Therefore, customers purchasing more than 100 dollars’ worth of currency had to present the relevant document to the bank.

Now, however, this threshold has been raised to 500 dollars.

What happens if the amount exceeds 500 dollars?

The important point is that the requirement to present a document has not been abolished entirely.

If the cash foreign currency purchase exceeds the equivalent of 500 US dollars, the customer will still be required to present an identity document.

Thus, the new procedure primarily simplifies small- and medium-sized cash currency transactions.

Who will benefit from the new rule?

The change will primarily provide additional convenience to citizens purchasing small amounts of cash foreign currency before traveling abroad, tourists, and those buying dollars or euros for personal needs.

There will no longer be a need to look for or separately present a document when entering a bank to purchase up to 500 dollars’ worth of currency.

This may help reduce transaction times and simplify certain processes at bank cash desks.

The key figure — 500 dollars

The new procedure, effective from August 9, can be summarized as follows: up to 500 dollars — no documents; above that amount — with an identity document.

Compared with the previous 100-dollar limit, this is a significant convenience for citizens.

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