Volume of exchange trading with foreign currency in July down

The volume of trading on the currency exchange in January-July increased by 78.8%. 

Since the beginning of the year, the amount of transactions amounted to 359.7 trillion soums, of which almost half fell on the foreign exchange market. The volume of transactions on currency pairs reached 174.9 trillion soums, an increase of 56%.

Monthly activity after two months of growth again decreased, amounting to 27.18 trillion soums. This is 49.5% more than last July - for comparison, in June the difference was almost twofold.

It is noted that the specialists of the UzRCE prepared a new electronic platform for futures trading and held a test bidding among traders in this area. The exchange promised to launch futures trading by the end of 2021.

Meanwhile, trading on the money market expanded slightly. In July, transactions were carried out for 18.44 trillion soums, or twice as much as the same month in 2021.

In just 7 months, the volume of interbank trading reached 128.27 trillion soums (+75.2%). Overnight deposits still provide the bulk (58.5%) of transactions, but at the same time, demand for longer-term placements has slightly increased.

The government securities market also became more active. The amount of placements in July amounted to 11.7 trillion soums, which is almost twice as much as in June and four times higher than last year’s figures.

Since the beginning of the year, the Ministry of Finance and the Central Bank have placed bonds for 48.4 trillion soums, 4 times higher than the volumes of the same period in 2021. The share of the debt market in trading continues to grow and has already reached 15.7%.

Even greater growth was shown by the secondary market of government bonds: in January-July, deals were concluded for 7.44 trillion soums, which is 6.5 times more than last year’s level.

In early August, Deputy Finance Minister Odilbek Isakov spoke about plans to increase the placement of government bonds and expand the circle of investors. Among other things, the issue of special bonds with an increased rate for individuals is being considered.