Uzbekistan’s banks purchase US$16.1 billion in foreign currency from population in 2024

Tashkent, Uzbekistan (UzDaily.com) — In 2024, Uzbekistan’s foreign currency exchange transactions surged significantly, according to data from the Central Bank of Uzbekistan.

The number of foreign currency purchase transactions by banks from individuals rose by 40.4% year-on-year, increasing from 68.2 million to 95.8 million.

At the same time, the number of foreign currency sales transactions by banks also grew, from 17.6 million to 22.8 million, reflecting a 29.3% annual increase.

In monetary terms, the total amount of foreign currency purchased by banks from individuals climbed from US$12.3 billion to US$16.1 billion, marking a 30.5% annual growth.

Meanwhile, the volume of foreign currency sold to individuals saw a more modest increase, rising from US$9.1 billion to US$9.4 billion, up by 2.7%.

The highest number of transactions occurred in May 2024, exceeding 9.3 million. However, August was the peak month in terms of value, with banks purchasing nearly US$1.6 billion in foreign currency from the public.