Central Bank: Citizens’ foreign currency sales surpassed purchases by $4.8 billion

Foreign currency sales by citizens of Uzbekistan exceeded purchases by $4.8 billion in the first nine months of this year, according to the Central Bank Chairman Mamarizo Nurmuratov.

Between July and September alone, monthly foreign currency sales reached $1.5 billion, nearly double the demand. Nurmuratov noted that the robust growth in non-gold exports (up 15.5% year-on-year) and a 34.8% increase in cross-border remittances have contributed to a balanced domestic currency market. These factors, he explained, are also encouraging savings in the national currency and supporting relatively stable monetary conditions.

Investment in fixed assets also saw a notable increase, up 31% from January to September. Centralized investments accounted for 89% of this growth. Additionally, direct foreign investment rose by 1.6 times, reaching $8 billion.

In the first half of the year, foreign currency supply exceeded demand, with banks purchasing nearly a third more foreign currency from the public, amounting to $7.2 billion.