BAKU, Azerbaijan, Mar. 11
By Klavdiya Romakayeva - Trend:
The volume of purchases of foreign currency for the import of goods and services in Uzbekistan approached the pre-quarantine indicators and reached $1.72 billion, Trend reports with reference to the Central Bank of Uzbekistan.
According to the CBU, the volume of loans allocated by commercial banks in Uzbekistan from January through February this year amounted to 18.8 trillion soums ($1.790 billion) with insignificant growth compared to the corresponding period of 2020 ($1.781 billion).
In addition, the total turnover of the commodity and raw materials exchange in February increased by 26.5 percent versus January and 1.6 times versus February last year.
Moreover, the total number of transactions through the interbank payment system in February increased by 19.6 percent.
The CBU reports that against the background of recovery in external demand, export earnings (excluding gold) in 2M2021 increased by 8 percent compared to the corresponding period last year and reached $1.4 billion. At the same time, export revenue in February amounted to $743 million, increasing by 13 percent compared to January.
As for the inflow of cross-border remittances, their volume in 2M2021 amounted to $892 million, which is 14 percent more than the same period in 2020.
“These factors contributed to the maintenance of supply in the domestic foreign exchange market, as a result of which the exchange rate of the national currency was formed more stable and as of March 1, 2021, the level of devaluation since the beginning of the year amounted to 0.6 percent,” the CBU reports.
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