The volume of cross-border money transfers to Uzbekistan in 2021 amounted to $8.1 billion, which is 34 percent more than in the previous year.

This indicator plays an important role in stabilizing supply volumes in the domestic foreign exchange market and setting up the exchange rate of the national currency.

According to the Central Bank, in 2021, the exchange rate of UZS per 1USD fluctuated between 10,449-10,849 UZS per 1 USD (annual inflation was 3.4 percent).

Growth in 2021 from export earnings and cross-border transfers by 34 percent became a factor supporting foreign exchange offers on the domestic foreign exchange market and served to increase the total volume of offers on the market by 1.6 times.

Due to changes in the operational mechanisms of the Central Bank, since August, Uzonia and Uzwia indices have been formed within the interest rate corridor. At the same time, Uzonia is formed around 13 percent and Uzwia – with some fluctuations closer to the main rate.

UzA