In the period from January to October this year, the volume of money transfers received in Uzbekistan amounted to $15.8 billion, which is 25% more compared to the previous year. This was reported in a statement by the Central Bank.
Cross-border money transfers have contributed to increasing the supply in the domestic currency market. The report noted that during the first ten months of this year, the exchange rate of the soum strengthened by 7%.
Factors such as the growth of foreign loans, the stabilization of imports, and the increase in investments have affected the national currency exchange rate. The demand for foreign currency reached $48.4 billion, which is 24% more than the previous year.
Meanwhile, the foreign currency supply during this period amounted to $41.2 billion. The Central Bank also analyzed the demand for currency among legal entities.
In this category, the annual supply volume increased by 38%, while the supply formed from export revenues grew by 18% to reach $14.5 billion. Out of this amount, $8.1 billion was sold on Uzbekistan's currency market, representing a 23% increase compared to the previous year.
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