$9.28 billion in money transfers registered in first half of year

Uzbekistan saw a significant rise in international money transfers during the first half of 2026, with total inbound remittances reaching $9.28 billion. This figure represents a 13% increase compared to the same period in 2025, according to a review by the Central Bank.

Over the last two years, these inflows have surged by 44%, a substantial jump from the $6.5 billion recorded in January-June 2024. Meanwhile, outbound transfers from Uzbekistan also experienced growth, climbing 8.1% to $1.33 billion from $1.23 billion a year prior. This resulted in a net balance of cross-border money transfers nearing $8 billion, up from approximately $7 billion in the first half of 2025.

The Central Bank highlighted that the positive balance of individuals' foreign exchange transactions with commercial banks provided an additional source of foreign currency. Individuals sold $12.3 billion worth of foreign currency to banks, nearly 40% more than in the first six months of 2025. Conversely, they purchased $6.8 billion, a 26% increase from the previous year. This led to individuals selling $5.5 billion more foreign currency than they bought, significantly boosting the net supply.

These increased money transfers, combined with higher export revenues and greater foreign currency sales by businesses, have been instrumental in maintaining the relative stability of the exchange rate throughout the first half of the year. In 2025, Uzbekistan received $18.9 billion in international money transfers, supporting stability in the domestic foreign exchange market. While transfers from citizens working in developed and Asian nations rose by nearly 22% to $3.49 billion, Russia's share of total inflows declined from 77.6% to 72.4%, with increased contributions from Kazakhstan, South Korea, Europe, and other countries.