During the first half of 2026 (January–June), the supply of foreign currency on Uzbekistan's domestic market—excluding Central Bank interventions—surged by 31 percent to reach $27.8 billion, the regulator said in the semi-annual market review.
Meanwhile, domestic demand for foreign currency grew by 20 percent over the same period, totaling approximately $32 billion. Notably, the inflow of foreign currency expanded at a faster pace than the market's appetite for purchasing it.
Retail activity played a significant role in this shift, with individual citizens selling $12.3 billion in foreign currency to commercial banks while buying back $6.8 billion. This resulted in a substantial net sell-off surplus of $5.5 billion.
The market was further supported by robust export revenues, corporate foreign currency liquidations, and cross-border remittances. International remittance inflows to Uzbekistan reached $9.3 billion during the six-month period, while outbound transfers totaled $1.3 billion.
This yielded a net remittance surplus of $8 billion. The Central Bank noted that this steady influx of foreign currency revenues was instrumental in maintaining the relative stability of the national currency's exchange rate throughout the first half of the year.
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