The exchange rate of the national currency strengthened in Uzbekistan

From January to October 2025, the exchange rate of the national currency strengthened by 7%, the Central Bank’s press service reported.

The Central Bank’s report indicates that the exchange rate dynamics for this period were formed under the influence of supply and demand factors in the domestic foreign exchange market, general macroeconomic trends, and external economic conditions. Significant growth in foreign exchange earnings through export channels, foreign loans, and remittances.

In addition, the increase in the volume of foreign investments and the relative stabilization of imports became the main factors in strengthening the national currency in the domestic foreign exchange market. Foreign exchange supply, formed from the export earnings of business entities, increased by 18% over 10 months and amounted to $14.5 billion.

Of this amount, $8.1 billion, or 56%, was sold on the domestic foreign exchange market (by 23% or $1.5 billion more than in the same period last year). In the domestic foreign exchange market, banks sold $7.3 billion through attracted foreign loans (62% or $2.8 billion more than in the same period of 2024).

Recall that Uzbekistan plans to allow digital currencies and asset tokenization. The President issued a related instruction to the National Agency for Perspective Projects along with the Central Bank.