The supply of foreign currency on Uzbekistan’s domestic market grew faster than demand in January-September 2026, according to the Central Bank’s review of the domestic foreign exchange market.
Demand increased by 17.9% year-on-year to $50.4 billion, while supply, excluding Central Bank operations, rose by 25.3% to $43.8 billion. As a result, the gap between demand and supply narrowed to $6.6 billion, down from $7.79 billion a year earlier.
The difference was particularly noticeable among businesses. Over the nine-month period, companies' demand for foreign currency increased by 15.3%, while supply grew by 26.7%.
Export earnings provided an additional source of foreign currency. They rose by 28.1% during the period to $16.6 billion. Of this amount, $9.5 billion, or 57.2% of total export proceeds, was sold on the domestic market. This was 33%, or nearly $2.4 billion, more than in January-September 2025.
Another source of foreign currency supply was sales by individuals. Residents sold $18.9 billion to commercial banks, 1.2 times more than in the first nine months of last year, when the figure stood at $15.3 billion.
The Central Bank also noted that additional liquidity generated by monetary gold transactions had been sterilised through foreign exchange operations, in line with the regulator’s neutrality principle, and other monetary policy instruments.
The English version of this material was generated with the assistance of AI translation tools and may differ slightly from the original text.
