As of the end of the third quarter of 2025, the transaction volume in Uzbekistan's interbank market amounted to 255.6 trillion soums. This figure is 19% higher compared to the second quarter, according to the Central Bank's monetary market review.
The ratio of monetary market transaction volume to the quarterly gross domestic product (GDP) increased by 51.5%. The volume of REPO transactions during the quarter grew from 144.6 trillion soums to 175.2 trillion soums.
Additionally, the regulatory body noted that the volume of interbank deposit transactions increased by 15%, reaching 80.4 trillion soums. However, monthly figures showed a declining trend: the volume, which was 35.6 trillion soums in July, dropped to 18.5 trillion soums by September.
“The dominance of REPO transactions reflects the high demand for collateral to manage liquidity and credit risks, especially towards the end of the month,” stated the Central Bank's report. Interest rates in the monetary market remained within the established corridor but increased due to changes in regulatory policies.
Nevertheless, due to the abundance of free funds in the system, rates remained below the main policy rate. According to the Central Bank, the average interest rates for interbank deposits and REPO transactions rose to 13.6% and 13.2%, respectively.
In the second quarter, these rates were 13.2% and 12.9%, respectively.
Users of Меҳмон are not allowed to comment this publication.
