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Market data from the Uzbek Republican Currency Exchange (UZCE) is now accessible on the Bloomberg Terminal, marking a significant step toward integrating Uzbekistan’s financial market into the global economy. Bloomberg users can now analyze real-time pricing and indicators for Uzbekistan’s currency, money markets, state securities, and derivatives. Expanding Accessibility The UZCE, which includes 35 local commercial banks, six brokerage firms, and one foreign custodian bank, serves as Uzbekistan’s primary platform for liquidity. It offers trading in approximately 20 instruments across various market segments. In 2023, the UZCE reported a total trading volume of $81 billion. By making this data available on Bloomberg, Uzbekistan aims to attract foreign investors by providing them with the tools to understand its financial market and assess trends more effectively. This transparency simplifies risk assessment and enhances decision-making for global market participants. Strengthening Market Confidence Rashid Usmanov, Director General of the Central Bank of Uzbekistan, highlighted the impact of this partnership, stating: “This partnership with Bloomberg will help participants in global markets to get up-to-date and accurate information from the UZCE in different segments of the exchange, thereby more effectively managing their assets. Increasing transparency and openness of data will strengthen market confidence and ensure an increase in liquidity.” The Central Bank of Uzbekistan’s market data is available via Bloomberg’s data license and the “B-PIPE” channel, providing real-time market information. This collaboration enhances the global visibility of Uzbekistan’s financial sector, positioning the country as a more attractive destination for international investment.
As of September 1, Uzbekistan's international reserves reached $39.15 billion. This reserve value is a record indicator for after 2018 when data disclosure began. In August, the value of international assets increased by $1.75 billion, or about 4.7%, compared to July's increase of $1.06 billion. This increase was mainly due to gold. Although the net physical volume of gold in official reserves decreased from 12.1 ounces to 12 ounces during August, the metal's price on the world market has increased significantly. Due to this, the value of the gold part of reserves increased by $1.24 billion or 4.4% to $30.39 billion in one month. Since the beginning of 2024, the price of gold has risen by 20% on the world market. Last month, the price of standard gold bullion exceeded a million dollars for the first time in history. Uzbekistan was one of the countries that bought the most gold in July. In August, reserve assets in foreign currencies increased from $7.68 billion to $8.19 billion (+ $503.1 million). Uzbekistan’s gold-currency reserves have increased by $4.59 billion or 13.3% since the beginning of the year. The Times of Central Asia previously reported that Uzbekistan’s gold reserves reached $37.4 billion in August.
Members of Kyrgyzstan's Parliament, the Jogorku Kenesh, have proposed that the national currency, the som, be established as the only means of payment in the country. The draft bill establishes that the som must be used in all domestic transactions, except for those related to export and import. It is seen as a step to reduce Kyrgyzstan's dependence on foreign currency, and stabilize the country's financial system. The draft law emphasizes that using foreign currencies -- especially in real estate, vehicle purchasing, and lending transactions -- creates additional risks for citizens. Sharp fluctuations in exchange rates make it more difficult for borrowers to repay debts. Similar measures have also been taken in Turkmenistan, where using foreign currency for everyday payments is almost entirely outlawed. Iraq has banned all domestic transactions to strengthen and stabilize the local currency, the Iraqi dinar.
A new banknote worth 5,000 som (U$56.60) has been put into circulation in Kyrgyzstan starting today, the National Bank of the Kyrgyz Republic has announced. The 5,000 som banknote is part of the new fifth series of the national currency, produced from a 2023 sample, and went into circulation on May 10, 2024. The new banknote contains a portrait of the renowned Kyrgyz actor and artist, Suymenkul Chokmorov on the front side, and a depiction of the famed movie theater, Ala-Too, on the obeverse. The main color and size of the banknote has remained unchanged. "The banknote of 5,000 som nominal value contains a three-level complex of modern security elements, providing reliable protection against counterfeiting. All banknotes of the national currency have the status of official means of payment in the Kyrgyz Republic and are subject to mandatory acceptance as a means of payment regardless of the year of issue," the national bank's press service stated. The first series of banknotes of Kyrgyzstan's national currency were introduced on May 10, 1993. The exchange rate then was set at 200 Soviet rubles to one Kyrgyz som.
TASHKENT (TCA) — Uzbekistan announced it will no longer restrict citizens from purchasing foreign currencies and will end a cap on the soum's daily fluctuations, removing the last roadblocks to a fully floating currency, RFE/RL's Uzbek Service reported. Continue reading
ASTANA (TCA) — The Asian Development Bank (ADB) on January 25 said it has raised 30.4688 billion tenge (around $80 million) from two new issues of local currency bonds in Kazakhstan. Continue reading
