Tajikistan - Foreign Exchange ControlsTajikistan-Foreign-Exchange-Controls
Tajikistan is subject to the International Monetary Fund’s Article VIII on Foreign Exchange controls. The National Bank of Tajikistan (NBT) controls the local currency Somoni, which is officially is fully convertible with U.S. dollar but in reality companies should inform commercial banks in advance as due to limited volumes of U.S. dollars in the Tajik banking system and market it may take up few days before exchange transaction takes place. Local currency Somoni is under administrative control of National Bank of Tajikistan but external pressures expecially connected to Russia effect the exchange rate. In 2017 Somoni devalued by 11.7% to U.S. dollar. In 2014-15 Somoni devalued by almost 30%. In December 2015, the Tajik National Bank ordered the closure of all unauthorized currency exchange points in the city. After that, only banks were able to perform foreign exchange cash operations. Anybody found violating this new arrangement could face jail terms of up to nine years. Also, banks are forbidden by law from selling Somoni at more than 1.5 percent the rate established by the Tajik National Bank.
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Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.