Thursday, 29, September, 2022

Uzbeks have withdrawn more cash from their bank accounts and cards, the Central Bank said in its half-year report on Tuesday. In January-June, the volume of bank cash turnover topped 316.3 trillion soums, which is by 36.4% more to the same period in 2021.

During this period, cash desks received 152.3 trillion soums (+32%) in cash. In particular, revenues from trade and services increased by 25% (14.3 trillion soums), but their share in the overall structure decreased by 2.6 percentage points. While, the inflow from banking services increased by 53.4% ​​(17.6 trillion soums), due to which their share increased by 5 percentage points.

In the total income from trade and services, the share of cash decreased from 64% to 62.5% against the backdrop of an increase in payments through terminals - from 36% to 37.5%. If cash receipts increased by 14.3 trillion soums, up to 71.7 trillion soums, then non-cash receipts increased by 10.8 trillion soums, up to 43 trillion soums.

Cash use through the cash desks of banks, including ATMs, increased by 40.8% - up to 164 trillion soums. In the first half of last year, banks' cash expenditures exceeded revenues by 1.1 trillion soums, and this year the gap has increased 10 times to 11.7 trillion soums.

Banks gave more cash due to an increase in cash withdrawals from bank cards by 22.2 trillion soums, or 52.7%. The second reason is an increase in the amount of cash for the purchase of foreign currency by 13.6 trillion soums, or 43.7%.

The Central Bank covered this demand by issuing additional cash in the amount of 11.8 trillion soums.

As a result, the share of cash in the total money supply increased. As of July 1 last year, this figure was 22.4%, now it is 25.6%.

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