Tashkent, Uzbekistan (UzDaily.com) -- The population of Uzbekistan in the second quarter of 2018 withdrew 2.2 trillion soums of cash from banking cards, which is 1.4 times more than in the first quarter of 2018. This was stated in the "Review of cash circulation in the first half of 2018" of the Central Bank of Uzbekistan.

The growth trend of withdrawing cash was accompanied by an increase in the share of purchases in cash, the regulator stressed.

"So, if in January-June 2018 the volume of cash payments for goods and services increased by 2.7 times compared with the corresponding period of 2017, then the volume of transactions using bank cards remained unchanged," the Central Bank said.

In general, an increase in total amount of withdrawal of cash from banking cards and a share of cash in proceeds from trade proceeds and paid services indicates their preference as a means of payment among the population.

In the first half of 2018, cash balances on the accounts of banking cards of individuals increased by 16% from 1.6 trillion soums in January to 1.8 trillion. soums in June. This growth can be explained by increased interest on the part of the population to store free funds on banking cards against the backdrop of strengthening confidence in the unhindered withdrawal of cash.

At the same time, under the influence of structural changes in the monetary sphere, there is an increase in turnover of cash through banks’ cash desks. In particular, in January-June of 2018 the average monthly turnover of cash through bank cash desks was 11.7 trillion soums, which is 2.5 times more than for the corresponding period of 2017 (4.7 trillion soums).