CB states citizens began receiving less cash wages and withdrawing more money from bank cards

In January-August 2021, the volume of cash inflows to bank cards amounted to 178.1 trillion soums, Spot reports referring to the report of the Central Bank (CB).

At the same time, in the first eight months of 2019, in the total volume of cash expenditures from the cash desks of banks, the payment of salaries to companies amounted to 21%, last year this figure dropped to 13%, this year – to 8%. At the same time, the volume of cash directed to withdrawals from bank cards increased over this period from 26% to 37%:

Cash spending through bank cash desks, including ATMs, increased by 50.8 trillion soums compared to last year. According to the regulator, this was facilitated by an increase in the volume of cash withdrawals from bank cards by 21.4trillion soums, as well as an increase in the volume of cash allocated for the purchase of foreign currency by 16.6 trillion soums.

In total, the population cashed out 58.8 trillion soums from bank cards (33% of the total volume of receipts to cards).

The Central Bank issued additional cash in circulation based on the needs of the population and receipts in the bank cash desks.

At the same time, the share of cash in the total money supply decreased by 5% compared to the previous year and amounted to 23%.