“Demand for cash among the population continues to grow” – Central Bank

The turnover of cash in banks since the beginning of the year has reached 503 trillion soums. This is 39% more than the same period last year, Spot reported referring to the Central Bank.

For nine months, bank cash desks accepted 244.3 trillion soums in cash, or 36.7% more than last year. As before, their main part is provided by the collection of proceeds from the sale of goods and banking services.

Proceeds from the sale of goods increased by 27.5% – however, their share in the total income structure decreased slightly (39% vs. 41%). On the other hand, the inflow of money from banking services increased noticeably, and its share reached 34%.

The total income from trade and services reached 183.1 trillion soums. Of these, cash accounted for 62.6%, almost 2% less than last year. The share of terminals increased to 37.4%, and their absolute growth exceeded cash.

Cash consumption amounted to 258.6 trillion soums, having increased by 41.8% (76.2 trillion soums). In its structure, the share of withdrawing money from cards at ATMs continues to grow – from 37% last year to 41% now. The share of wages, on the contrary, fell from 9% to 8%.

The volume of cash withdrawals for 9 months increased by more than 1.5 times or by 38.6 trillion soums. In addition, banks spent 17 trillion soums (+35.6%) more to buy foreign currency in cash.

In total, 382.6 trillion soums have been credited to cards since the beginning of the year, which is almost twice as much as last year. Of this amount, 27.6% or 105.5 trillion soums were withdrawn in cash, mainly through ATMs.

To cover demand, the Central Bank issued 15.8 trillion soums in cash in nine months (including about 4 trillion in July-September). In total, 43.78 trillion soums of cash were in circulation at the beginning of October, with a total money supply of 174.16 trillion soums.

The share of cash in the money supply was 25.1%. The indicator rose to last year’s level (23.2%), but slightly decreased over the summer – in July it was 25.6%.