Central Bank reports 24 percent rise in cash turnover

As of January 1, 2026, the total volume of cash in circulation in the country reached UZS 68 trillion, up by UZS 15 trillion compared to a year earlier.

The difference between cash inflows and outflows through banks is covered by additional issuance. In 2025, the Central Bank released UZS 16.8 trillion in cash into circulation. As a result, the share of cash in the overall money supply declined to 18.1 percent from 19.2 percent a year earlier.

Last year, total cash turnover through banks amounted to UZS 1,250 trillion, marking a 24 percent increase compared to 2024. Of this amount, cash inflows totaled UZS 615 trillion, while outflows reached UZS 635 trillion.

Cash inflows to banks rose by UZS 114 trillion, or 23 percent year on year. Growth was driven in part by higher receipts from banking services, including deposits, loan repayments and foreign currency sales, which increased by UZS 60 trillion. Trade revenues also contributed, rising by UZS 25 trillion.

Cash withdrawals from bank cash desks, including automated teller machines, increased by UZS 125 trillion, or 25 percent. This was mainly due to a UZS 54 trillion rise in cash withdrawals from bank cards and a UZS 27 trillion increase in cash provided by banks to purchase foreign currency from the public.

According to the Central Bank, the volume of funds credited to bank cards in 2025 increased 1.4 times compared to 2024, largely reflecting higher household incomes. During the period, UZS 279 trillion was withdrawn in cash from bank cards.

In 2025, the Central Bank issued an additional 262 million banknotes, bringing the total number of banknotes in circulation to more than 2.44 billion.

The share of UZS 200,000 banknotes in circulation increased from 23.4 percent to 28.5 percent. Although the share of UZS 100,000 banknotes declined from 40.9 percent to 36.4 percent, they remained the most popular denomination. The reduction was mainly due to the withdrawal of older series banknotes from circulation.

By the end of 2025, the share of UZS 50,000 banknotes rose from 16.6 percent to 18.2 percent, while UZS 20,000 banknotes increased from 6.7 percent to 7.1 percent. In contrast, the share of UZS 10,000 banknotes fell from 7 percent to 5 percent, UZS 5,000 banknotes from 4.1 percent to 3.7 percent, and UZS 1,000 coins from 0.6 percent to 0.5 percent. The share of UZS 2,000 banknotes remained unchanged at 0.7 percent.

Overall, small denominations accounted for 1.1 percent of cash in circulation, medium denominations for 15.8 percent and large denominations for 83.1 percent.

The Central Bank also continued measures to gradually withdraw old series banknotes and replace them with new ones. In 2025, the share of old UZS 5,000 banknotes declined from 25 percent to 7 percent, UZS 10,000 from 24 percent to 5 percent, UZS 50,000 from 25 percent to 4 percent, and UZS 100,000 from 18 percent to 3 percent.