BAKU, Azerbaijan, Aug. 17
By Ilkin Seyfaddini - Trend:
The volume of foreign currency sales by individuals in Uzbekistan increased by 50 percent in the period from January through July 2020, Trend reports citing the Central Bank of Uzbekistan.
For the period from January through July 2020, it reached $2.5 billion, and increased by 50 percent or $842 million compared to the same period of 2019.
In turn, the volume of purchase of foreign currency by individuals made up $2 billion for the mentioned period, which is three times more than for the corresponding period of 2019. At that time, the volume was $686 million.
As a result, the surplus (net supply) on these transactions was $501 million for the period from January through July 2020, which is $489 million (or 49 percent) less than for the same period in 2019.
According to the bank's data, the volume of foreign currency purchased by individuals in June 2020 reached $323 million showing the highest level since the beginning of the year.
Thus, the trade surplus was $491 million which is $351 million (or 42 percent) less than for the same period in 2019.
The volume of cross-border money transfers to Uzbekistan amounted to $2.4 billion in the first half of 2020. This is six percent ($156 million) more compared to the same period of last year.
---
Follow author on Twitter: @seyfaddini