FOREIGN EXCHANGE OPERATIONS DEVELOPMENT OF COMMERCIAL BANKS OF THE REPUBLIC OF UZBEKISTAN
The Action Strategy for the five priority areas of development of the Republic of Uzbekistan for 2022-2026 notes the implementation of a phased liberalization of the movement of capital, the privatization of large enterprises, and shares (shares) in them, including through the stock exchange. Completion of the transformation processes in commercial banks with state participation, bringing the share of the private sector in the assets of the banking system to 60 percent by the end of 2026. In order to achieve the set goals, especially in the field of liberalization of the monetary policy and the introduction of market mechanisms for the regulation of foreign exchange relations are mandatory conditions for ensuring the stability of macroeconomic growth. However, the effectiveness of measures aimed at reforming foreign exchange relations largely depends on the degree of development of foreign exchange operations of commercial banks. Since, commercial banks are the main participants in the foreign exchange markets, entering into foreign exchange transactions. In the article, the authors identify urgent problems associated with the development of foreign exchange operations of commercial banks in Uzbekistan and developed scientific proposals aimed at solving these problems.