Central bank's foreign exchange interventions total $7.6 billion in 2024

The Central Bank of Uzbekistan conducted foreign exchange interventions totaling $7.6 billion in 2024, marking a 6% decrease from $8.1 billion in 2023, according to Alimardon Odilov, Director of the Department of Monetary Operations.

Photo: KUN.UZ

"In the first quarter of last year, the net volume of foreign exchange interventions was $3.5 billion, $1.6 billion in the second quarter, $0.5 billion in the third quarter, and $2 billion in the fourth quarter," Odilov said.

The Central Bank reduced the volume of interventions by over 6% compared to 2023, when the total was $8.1 billion.

"In the first quarter of 2024, foreign exchange interventions were higher than in other periods. This was due to increased demand for foreign currency in January and February, a trend also observed in 2023," added the representative of the Central Bank.