Money Supply in Uzbekistan Surges by a Record 37% in 2025 to 379 Trillion Soums

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan’s total money supply showed unprecedented growth in 2025, rising 37% over the year to reach 379 trillion soums as of 1 January 2026.

According to the Central Bank, the money supply on the same date a year earlier amounted to 277 trillion soums, reflecting an annual increase of approximately 102 trillion soums.

The primary driver of this expansion was a sharp rise in deposits in the national currency, which reached 241 trillion soums at the beginning of 2026 compared to 167 trillion soums at the start of 2025.

Foreign currency deposits also continued to grow, reaching 70 trillion soums. At the same time, the volume of cash in circulation increased to 68 trillion soums, up 15 trillion over the year.

Central Bank experts note that the simultaneous significant growth in both the deposit base and cash in circulation indicates a substantial increase in the overall money supply in the economy. They warn that this could potentially put pressure on price stability.