BAKU, Azerbaijan, May 7
By Ilkin Seyfaddini – Trend:
The total volume of operations on the Uzbek domestic foreign exchange market amounted to $5.4 billion, having increased by 1.8 and 1.3 times, respectively during January through March 2020, compared to the corresponding periods of 2018 and 2019, Trend reports with the reference to Central Bank of Uzbekistan.
In the period from January through April 2020, the situation in the domestic currency market was formed in conditions of increasing demand and supply of foreign currency in all its segments, the report says.
The demand for foreign currency from legal entities in the first 4 months of 2020 increased by 1.1 times compared to the same period last year and amounted to $4.2 billion (in the period from January through April 2019 - $3.9 billion).
During this period, business entities on the foreign exchange market purchased $1.06 billion ($939 million in January through April 2019), while the volume of transactions on the foreign exchange market amounted to $3.1 billion. (in the first 4 months of 2019 - $2.8 billion).
In the target structure of foreign currency purchases, the main share (63 percent) is payment for the import of equipment, goods and raw materials for production purposes, 22 percent - imports of consumer goods and medicines, 12 percent - repayment of foreign loans, one percent - repatriation by foreign investors and the remaining two percent were acquired for other purposes, the message said.
The average monthly number of economic entities that purchased foreign currency in the domestic foreign exchange market in January through April 2020 amounted to 6,183, having increased by 723 as compared with the same period of the previous year (5,460).
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