Foreign Currency Demand in Uzbekistan Rises 20% in Five Months

Tashkent, Uzbekistan (UzDaily.uz) — The total demand of legal entities and individuals for foreign currency in Uzbekistan reached US$25.7 billion in January–May 2026, representing an increase of 20.1% compared to the same period last year when the figure stood at US$21.4 billion, according to data from the Central Bank of the Republic of Uzbekistan.

The majority of the demand came from legal entities, accounting for US$20.2 billion, while individuals purchased foreign currency totaling US$5.5 billion.

The supply of foreign currency also recorded a noticeable increase, with the total volume of sales by legal entities and individuals rising by nearly US$5 billion, or 28.6%, to reach US$22.3 billion. Out of this total, the population sold US$10.2 billion in foreign currency to commercial banks, and legal entities sold US$12.1 billion.

Despite the increased turnover in the foreign exchange market, the exchange rate of the national currency maintained relative stability. During the period under review, the rate fluctuated within a range of 11,938–12,320 soums per US dollar and generally remained at the level seen at the beginning of the year. The average volatility of the exchange rate amounted to 30 soums, or 0.25%, compared to 17.3 soums, or 0.13%, recorded in January–May 2025.