The positive difference between the sale and purchase of foreign currency by the population continues to grow. This was stated in a presentation by the Chairman of the Central Bank, Mamarizo Nurmuratov.
Over the past nine months, Uzbeks sold $4.8 billion more in foreign currency to banks than they bought. In the July-September period, the monthly sales volume reached $1.5 billion, which nearly doubled the demand for currency.
“The rapid growth of non-gold exports (+15.5% year-on-year) and cross-border money transfers (+34.8%) ensures balance in the domestic foreign exchange market, further stimulates savings in the national currency, and supports relatively stable monetary conditions,” Nurmuratov stated.
Photo: Central Bank
Additionally, from January to September this year, investments in fixed capital increased by 31%. The primary growth was attributed to centralized investments, which accounted for 89% of the total volume. Furthermore, the volume of foreign direct investments rose by 1.6 times, reaching $8 billion.
In the first half of the year, the supply of foreign currency exceeded demand. The volume of currency purchases by banks from the population increased by almost a third, reaching $7.2 billion.
Previously, Spot reported that over nine months, the volume of money transfers to Uzbekistan grew by a third.