Uzbekistan sees reduced cash withdrawals amid growing digital payments

Over the past three months, residents in Uzbekistan withdrew about 23% of the total funds transferred to their bank cards.

From January to March, 212 trillion UZS were transferred to bank cards. Out of this, residents in Uzbekistan withdrew 48 trillion UZS, or 22.7%, according to a brief cash circulation review by the Central Bank.

For the same period last year, 164 trillion UZS were transferred and 24.8% were cashed, while in 2022, bank cards received 96 trillion UZS (28.1%).

Overall, during the three months, there was a decline in the volumes of cash put into circulation by 3 trillion UZS. The share of cash in the total money supply as of April 1, 2024, was 20.1%, which is 2.2% lower compared to the previous year.

Since the beginning of the year, the total amount of monetary receipts was 184 trillion UZS, which is 30% more compared to 2023.

Prepared by: Kun.uz Admin

#economy #Central Bank #cash