In Uzbekistan, the activity of the domestic market for foreign currencies has sharply increased. According to the Central Bank's "Internal Currency Market Review," in January-October 2025, the demand for foreign currency increased by 24%, and the supply rose by 26%.
Notably, the population sold $17.4 billion to commercial banks over 10 months. This is almost one and a half times higher than in the corresponding period of 2024. This figure indicates a significant increase in confidence and activity in selling currency through official channels in the country.
Also, during 2024, the population sold $13.2 billion to banks. In the first three quarters of 2025, this figure reached $15.2 billion, further demonstrating the growth of the annual record.
During the reporting period, banks purchased $9.6 billion from individuals. This is 24% more than last year. It is noteworthy that the population's supply exceeded demand by $7.8 billion - this is also a 1.4-fold increase compared to last year.
The Central Bank noted that the main part of the currency supply was formed at the expense of international remittances. In January-October of this year, migrants sent $15.8 billion to Uzbekistan - this is 3.2 billion more than in 2024. The growth rate was 25 percent.
At the same time, $2.2 billion was withdrawn from the country through international remittances. This is 147 million dollars less than last year.
Significant growth in both supply and demand indicates increased activity, transparency, and confidence in the banking system in the Uzbek currency market.
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