Uzbekistan to raise limit for passport-free foreign currency purchases

According to the Ministry of Justice, a new departmental act was officially registered on May 8, paving the way for more flexible exchange operations at local banks.

Under the updated regulations, citizens will be able to purchase up to $500 in cash foreign currency without presenting a passport, ID card, or any other form of identification. This marks a fivefold increase from the current limit of $100.

The initiative, originally proposed by the Central Bank in March, aims to streamline the process for small-scale transactions. While the requirement for identity documents is being relaxed, the Central Bank noted that commercial banks will still be expected to implement independent verification measures for customers purchasing cash up to the $500 equivalent.

The Ministry of Justice confirmed that these changes are scheduled to take effect in mid-August, exactly three months after the official publication of the document. Until then, the existing $100 limit remains in place for all anonymous currency exchange transactions.