Uzbek Central Bank launches overnight operations with commercial banks

Uzbek Central Bank launches overnight operations with commercial banks

The Central Bank of Uzbekistan said on Friday that it will start conducting overnight operations with commercial banks on a daily basis starting next week.

Starting from Monday, February 24, the regulator will conduct three types of operations: overnight deposit, overnight repo, and overnight swap. All of them will be held from 14:00 to 16:00.

The interest rate for overnight deposit operations is set at 15% (the Central Bank’s main rate minus 1 percentage point), and for overnight repos and overnight swaps – 17% (the Central Bank’s main rate plus 1 percentage point).

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