The Central Bank of Uzbekistan plans to increase the limit for purchasing cash foreign currency without requiring an identity document. This is outlined in a draft resolution by the regulator, which has been published for public input.

According to the document, the threshold is proposed to increase from $100 to $500. Consequently, no ID may be required when purchasing cash foreign currency in an amount equivalent to up to $500. Currently, banks are required to arbitrarily take measures for "customer due diligence" (CDD) when currency is purchased for an amount exceeding $100.

Customer due diligence measures include identifying and verifying the customer's identity, as well as verifying the identity and authority of any person acting on their behalf. Banks are also required to identify the beneficial owner, examine the purpose and nature of the business relationship or transaction, and continuously monitor the customer’s operations to ensure they match their profile, including the source of funds where necessary.

Additionally, the draft envisions changing the thresholds for conducting due diligence (customer identification) for transactions made without opening a bank account. Currently, such procedures are mandatory for amounts equal to or exceeding 500 times the Base Reference Value (BRV)—approximately 206 million soums. The proposal is to establish a fixed threshold of 175 million soums.

The explanatory note states that these changes are being implemented to provide additional convenience for the public. The threshold requiring due diligence is being brought into compliance with FATF (Financial Action Task Force) Recommendation 10. According to these requirements, the threshold for due diligence on occasional transactions is $15,000.

Currently, the rule-mandated threshold of 500 times the BRV (approximately $16.9 thousand) exceeds the $15,000 limit. In view of this, the threshold is being set at 175 million soums.

In 2025, Uzbeks sold more foreign currency than they purchased. The difference grew to $9.7 billion (+44.2%), serving as an additional source of currency for the market.