The Central Bank of the Republic of Uzbekistan published its report on the domestic foreign exchange market for the first nine months of 2025. This report indicates that there is still a high level of confidence in the national currency.
In particular, during January-September of this year, the population of Uzbekistan sold $6.7 billion worth of foreign currency to banks, which is significantly more currency sold than purchased. This figure is 1.4 times higher than that of the same period last year.
The main indicators are as follows: - Demand for foreign currency: $42.7 billion (23.5% higher than in 2024); - Currency supply (excluding the Central Bank): $34.4 billion. It was also noted that the degree of dollarization of the national economy has decreased significantly.
In the overall structure of loans, the share of foreign currency-denominated debt decreased from 41% to 37%, while the share of foreign currency deposits decreased from 26% to 23%. The main source of foreign currency for the population is remittances from abroad, the total volume of which amounted to $13.9 billion (24% more than in 2024).
For legal entities, demand for foreign currency increased by 24%, while currency supply grew by 37%. Export earnings amounted to $13 billion, indicating an 18% increase.
Of this amount, $7.1 billion (55%) was sold on the domestic market.
