From January to July 2026, the volume of foreign currency purchases and sales at Uzbek banks reached $71.2 billion—the highest figure for the first seven months of the year in three years, Daryo.uz reports, citing the Central Bank of Uzbekistan.
During this period, individuals and businesses purchased $38.2 billion worth of foreign currency from banks, an increase of $5.7 billion, or 17.7%, compared to the previous year. Legal entities accounted for $30 billion, while individuals accounted for $8.2 billion.
At the same time, foreign currency sales to banks increased by 28%, reaching $33 billion. Individuals sold $14.6 billion, while businesses sold $18.4 billion. Thus, the supply of foreign currency is growing faster than demand, although it remains lower.
Against this backdrop, the sum strengthened against the dollar by approximately 0.4% over the seven months, with the exchange rate ranging from 11,910 to 12,320 sums per dollar. Migrant remittances became an additional source of foreign exchange supply, reaching $9.3 billion in the first half of the year, an increase of 13%.
The growth in foreign exchange transactions reflects the expansion of foreign trade and economic activity. At the same time, accelerating foreign exchange sales and increasing migrant remittances support supply in the domestic market, contributing to the relative stability of the sum. However, the persistent excess demand indicates that the economy's need for foreign exchange remains high.
CentralasianLIGHT.org
August 18, 2026