BAKU, Azerbaijan, Nov. 17
By Klavdiya Romakayeva - Trend:
The volume of foreign currency sold by individuals to banks in Uzbekistan from January through October increased by 25 percent, Trend reports referring to press service of the Central Bank of Uzbekistan.
Uzbekistan’s population sold to the banks foreign currency worth $3.7 billion for ten months of this year, which is $744 million more compared to the same period last year.
At the same time, the volume of purchases of foreign currency by individuals amounted to $3.3 billion, which is 2.7 times more than in the corresponding period of last year ($1.2 billion).
In addition, the bulk of these funds, which amounts to 79 percent, was purchased in cash through foreign exchange offices, while the share of alternative methods (online conversion, automated exchange ATMs, etc.) accounted for 21 percent or $687 million.
As a result, the surplus (net supply) on these transactions for the reported period amounted to $350 million.
Follow the author on Twitter: @romakayeva