Central Bank reports 0.6% appreciation of national currency against greenback

The UZS appreciated against the US dollar by 0.6% during the first four months of this year, according to the latest figures from the Central Bank. This performance marks a notable shift compared to the same period in 2025, when the national currency strengthened by a marginal 0.1%.

Photo: Kun.uz

Central Bank data reveals that between January and April, the exchange rate moved from UZS12,004 to UZS11,938 per dollar. Throughout this four-month window, the rate fluctuated within a range of UZS11,938–12,320. Market volatility remained relatively contained, with an average daily fluctuation of UZS28.5, or 0.23%. This is a slight increase from the volatility observed during the corresponding period last year, which stood at UZS13.6, or 0.11%.

The period was characterized by a sharp rise in activity within the domestic foreign exchange market. The combined demand for foreign currency from both legal entities and individuals reached $20.4 billion, representing a 24.3% increase year-on-year. Legal entities accounted for the bulk of this demand at approximately $16 billion, while individual citizens sought $4.4 billion.

Parallel to the rising demand, the supply of foreign currency also saw a significant boost. Total supply from businesses and individuals grew by 33.9%, or nearly $4.6 billion compared to the previous year, reaching a total of $18 billion.

A closer look at the market participants shows that from January to April 2026, the general public sold $8.2 billion to commercial banks. In the corporate sector, legal entities contributed $9.8 billion in foreign currency sales, helping to maintain liquidity and support the overall stability of the national currency.