Uzbekistan’s Soum Starts the Year on a Strong Note

Tashkent, Uzbekistan (UzDaily.com) — As of 8 January 2026, the Uzbek soum continues to strengthen against the US dollar, with the exchange rate at 11,980 soums per dollar. Since December 25, the soum has appreciated by 0.68%, and over the course of 2025, it strengthened nearly 7% against the US Dollar.

Last year, investment in Uzbekistan’s economy reached US$43.1 billion, marking a 24% increase compared to 2024. The bulk of this inflow came from foreign direct investment, totaling US$38.2 billion, with an additional US$4.9 billion contributed by international financial institutions.

The largest investors were China, Russia, Türkiye, Saudi Arabia, and the United Arab Emirates.

The growth in investment reflects improvements in the business climate and rising international confidence. Global companies such as Volkswagen, Alshaya Group, Citi, Franklin Templeton, and Sojitz entered the Uzbek market, along with new players in agriculture, healthcare, and logistics.

Domestic economic optimism has also strengthened. According to the Central Bank, around two-thirds of the population expect their incomes to grow over the next year. The highest level of confidence is observed in the trade and media sectors, driven by rising domestic turnover and digitalization.

Overall, the combination of capital inflows, infrastructure projects, and positive household expectations is forming a solid foundation for economic activity and supporting the stability of the soum.

In the coming January week, the US dollar–soum exchange rate is expected to fluctuate in the range of 11,940–12,100 soums.

Anna Bodrova, Analyst at Alpari