Tashkent, Uzbekistan (UzDaily.com) -- The Central Bank of Uzbekistan does not plan to withdraw banknotes of 1,000 soums from circulation. This was announced by Fazliddin Bozorov, Director of the Department of Organization of Cash Circulation of the Central Bank.

Fazliddin Bozorov noted that 1000 soum banknotes are outdated since they were introduced into circulation in 2001. He stressed that most of the banknotes have been in circulation for a long time.

The representative of the regulator noted that 1000 soum banknotes are still printed and put into circulation based on demand.

At the same time, he admitted that the use of 1,000 soums is decreasing. According to him, the population withdraws cash through ATMs, and banks place mainly large denomination banknotes in them.

Bozorov stated that banks can place 1000-soum bills in ATMs. But commercial banks prefer large bills to serve as many customers as possible, he added.

He noted that the Central Bank constantly conducts systematic work to optimize a number of cash in circulation, exclude obsolete banknotes from circulation and issue new banknotes and coins in their place.

An official of the regulator said that in the near future the Central Bank will not withdraw banknotes in denominations of 1,000 soums from circulation.