Demand for loans and foreign loans is recovering in Uzbekistan. This is stated in a press release from the Central Bank.
Demand for financial resources in the form of loans and foreign currency is recovering
During January-February of this year the volume of loans allocated by commercial banks amounted to 18.8 trillion. soums with a slight increase compared to the corresponding period of 2020 (18.7 trillion soums).
The volume of purchases of foreign currency for the import of goods and services approached the pre-quarantine indicators and reached $ 1.72 billion.
The total turnover of the Commodity and Raw Materials Exchange in February increased by 26.5% compared to January of this year and 1.6 times compared to the corresponding month of last year. The total number of transactions through the interbank payment system in February also increased by 19.6% compared to the previous month.
Against the background of the recovery in external demand, export earnings (excluding gold) during January-February increased by 8% compared to the corresponding period last year and reached $ 1.4 billion. At the same time, in February, export earnings amounted to $ 743 million, having increased by 13% compared to January of this year.
The inflow of cross-border remittances in January-February of this year amounted to 892 million dollars, which is 14% 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 was 0.6%.