{"id":11500,"date":"2025-10-22T17:04:11","date_gmt":"2025-10-22T12:04:11","guid":{"rendered":"https:\/\/frank.uz\/bez-kategorii\/in-uzbekistan-remittances-are-breaking-records-and-dollarization-is-decreasing\/"},"modified":"2025-10-22T17:04:11","modified_gmt":"2025-10-22T12:04:11","slug":"in-uzbekistan-remittances-are-breaking-records-and-dollarization-is-decreasing","status":"publish","type":"post","link":"https:\/\/frank.uz\/en\/news-en\/in-uzbekistan-remittances-are-breaking-records-and-dollarization-is-decreasing\/","title":{"rendered":"In Uzbekistan, remittances are breaking records, and dollarization is decreasing"},"content":{"rendered":"<p><strong>Why is this important<\/strong><\/p>\n<p>The growth of bank operations and remittances reflects the increase in labor migrants&#8217; income and the activation of financial flows. A decrease in the share of foreign exchange sources in import financing indicates a strengthening of the national currency&#8217;s position and a decrease in the dollarization of the economy. <\/p>\n<p><strong>What happened<\/strong><\/p>\n<ul>\n<li>The volume of bank operations for January-September 2025 amounted to $6.2 billion (+24% year-on-year);<\/li>\n<li>Money transfers in September reached $1.82 billion \u2014 a high since the beginning of the year and a 26% increase compared to September 2024;<\/li>\n<li>In the structure of operations: foreign currency assets, national currency liabilities and swap transactions;<\/li>\n<li>In January-September 2024, transfers grew from $952 million in January to $1.45 billion in September.<\/li>\n<\/ul>\n<p><strong>Import financing: A shift towards the national currency<\/strong><\/p>\n<ul>\n<li>The share of own foreign currency funds in import financing decreased from 11.4% (January-September 2024) to 11.3% (2025);<\/li>\n<li>The share of foreign currency purchased in the domestic market decreased from 23.1% to 24% \u2014 a slight change in the structure;<\/li>\n<li>The main part of financing (2025 \u2014 64.7% versus 65.5% in 2024) comes from foreign currency loans and borrowings.<\/li>\n<\/ul>\n<p><strong>Context<\/strong><\/p>\n<p>The increase in remittances is linked to the improvement of labor markets in Russia and other countries where Uzbek migrants work. The peak in September ($1.82 billion) reflects the seasonal factor: before winter, migrants send more funds to their homeland. <\/p>\n<p>A decrease in dependence on own foreign currency funds during imports may indicate a more active use of credit lines and external borrowings. This reduces pressure on the foreign exchange market and contributes to the stabilization of the soum&#8217;s exchange rate. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over 9 months, the volume of Uzbekistan&#8217;s banking system operations reached $6.2 billion, a 24% increase compared to the same period last year. Money transfers from abroad in September amounted to $1.82 billion, which is 26% higher than last year&#8217;s figure. <\/p>\n","protected":false},"author":4,"featured_media":8181,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_sharing_image":{"poster":"https:\/\/frank.uz\/wp-content\/uploads\/2025\/10\/68f9222dee137.jpg","width":1200,"height":630,"template":"2bf59057","mode":"auto"},"_sharing_image_fieldset":{"Dv78f24rp1hU":8181,"YlB8HH34jIzY":"In Uzbekistan, remittances are breaking records, and dollarization is decreasing"},"pin_until":"","footnotes":""},"categories":[2061],"tags":[2212,2079,2926,2511],"class_list":["post-11500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-banks","tag-finance","tag-import-en","tag-money-transfers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.0 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>In Uzbekistan, remittances are breaking records, and dollarization is decreasing &#8212; Frank.uz<\/title>\n<meta name=\"description\" content=\"Over 9 months, the volume of Uzbekistan&#039;s banking system operations reached $6.2 billion, a 24% increase compared to the same period last year. Money transfers from abroad in September amounted to $1.82 billion, which is 26% higher than last year&#039;s figure.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/frank.uz\/en\/news-en\/in-uzbekistan-remittances-are-breaking-records-and-dollarization-is-decreasing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"In Uzbekistan, remittances are breaking records, and dollarization is decreasing\" \/>\n<meta property=\"og:description\" content=\"Over 9 months, the volume of Uzbekistan&#039;s banking system operations reached $6.2 billion, a 24% increase compared to the same period last year. Money transfers from abroad in September amounted to $1.82 billion, which is 26% higher than last year&#039;s figure.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/frank.uz\/en\/news-en\/in-uzbekistan-remittances-are-breaking-records-and-dollarization-is-decreasing\/\" \/>\n<meta property=\"og:site_name\" content=\"Frank.uz\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/FrankUzbekistan\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-22T12:04:11+00:00\" \/>\n<meta name=\"author\" content=\"Azamat\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@frank_uzb\" \/>\n<meta name=\"twitter:site\" content=\"@frank_uzb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Azamat\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/frank.uz\/en\/news-en\/in-uzbekistan-remittances-are-breaking-records-and-dollarization-is-decreasing\/\",\"url\":\"https:\/\/frank.uz\/en\/news-en\/in-uzbekistan-remittances-are-breaking-records-and-dollarization-is-decreasing\/\",\"name\":\"In Uzbekistan, remittances are breaking records, and dollarization is decreasing &#8212; Frank.uz\",\"isPartOf\":{\"@id\":\"https:\/\/frank.uz\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/frank.uz\/en\/news-en\/in-uzbekistan-remittances-are-breaking-records-and-dollarization-is-decreasing\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/frank.uz\/en\/news-en\/in-uzbekistan-remittances-are-breaking-records-and-dollarization-is-decreasing\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/frank.uz\/wp-content\/uploads\/2025\/07\/92ca47414b_aqaga2gtpls9zrtlengcbnsi-lwwf8k_w3x4oqhrn3jwuokpo_s6tmppsurb1a6t3yxpmd3dwvnlibis1s-psokkwqi.jpg\",\"datePublished\":\"2025-10-22T12:04:11+00:00\",\"author\":{\"@id\":\"https:\/\/frank.uz\/en\/#\/schema\/person\/ef76c06f7f97345c76ba878b2a9bee67\"},\"description\":\"Over 9 months, the volume of Uzbekistan's banking system operations reached $6.2 billion, a 24% increase compared to the same period last year. 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