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Finance 08/05/2018 Banks purchase hard currency for US$646.2m from population in Jan-Apr
Banks purchase hard currency for US$646.2m from population in Jan-Apr
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan’s commercial banks sold foreign currency for US$150.6 million in January-April 2018, the Central Bank of Uzbekistan said.

The volume of purchase of foreign currency from the population in the reporting period exceeded US$646.2 million.

From February 2018, there is a tendency to increase the volume of foreign currency purchase from the population, which can be considered as a consequence of strengthening of the national currency.

After the introduction of the mechanism for withdrawing purchased foreign currency from international payment cards, in April 2018, the population’s demand for foreign currency increased by 45% compared to March 2018 and reached to US$47 million.

The volume of withdrawal of foreign currency by individuals from international payment cards through ATMs and cash desks of banks in April 2018 made up 35% of the currency they bought (US$16.3 million). The amount for one operation averaged US$561.

Starting from April 2018, commercial banks have carried out online conversion through mobile applications, which was positively accepted by users of banking services. In particular, 9% of purchased foreign currency in April (US$4.1 from US$46.9 million) was purchased by individuals through mobile applications.

private entrepreneurs, importing goods, purchased 56% of the total volume (US$84.7 million) of foreign currency, purchased by individuals in January-April.

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