TASHKENT, Uzbekistan, January 29. The Central Bank of Uzbekistan (CBU) anticipates a dip in the banking system's liquidity surplus during the first quarter of 2025.
According to the data obtained by Trend from the CBU, this reduction will be driven by seasonal factors, including increased demand for foreign currency, a decrease in budgetary operations, and lower cash requirements.
In the fourth quarter of 2024, Uzbekistan’s banking system experienced a rise in liquidity surplus, reaching 18.5 trillion soums ($1.4 billion) by December 2024.
Despite the expected decline, demand for liquidity absorption operations and interbank market activity is projected to remain high. The Central Bank plans to continue using monetary policy instruments, including bond issuance and deposit auctions, to manage liquidity levels effectively.
Market analysts will closely watch the impact of these liquidity changes on interest rates and financial stability in the coming months.
Meanwhile, Uzbekistan's high-quality liquid assets totaled 133.2 trillion soums ($10.2 billion) as of January 2025. This indicator has decreased by 37.4 percent compared to the previous indicator (96.9 trillion soums, or $7.4 billion as of December 2024).