In 2026, Uzbekistan's foreign exchange market remains stable, and the Central Bank does not observe any signs of pressure on the national currency's exchange rate. This was stated by Deputy Chairman of the Central Bank Abror Mirzo Olimov at the Silk Road Finance & Technology Forum in Tashkent.
According to him, macroeconomic and financial stability remains one of the key factors for the country's investment attractiveness. Inflation, which was at a double-digit level after the pandemic, is gradually decreasing. By the end of 2026, the Central Bank expects the indicator to be around 6.5%, and next year it plans to bring it down to the target 5%.
Olimov also noted Uzbekistan's transition to a fully floating exchange rate, which was recognized by the International Monetary Fund in 2026. Now, the exchange rate should serve as a tool for adapting the economy to external shocks and increasing predictability for investors.
In 2025, the Uzbek sum strengthened by approximately 7% against the dollar for the first time. At the same time, the regulator does not observe significant pressure on the foreign exchange market this year.
Separately, the Central Bank intends to continue reforming the banking sector. After a comprehensive assessment of the financial system conducted jointly with the IMF and the World Bank, the regulator plans to bring requirements closer to international Basel III standards. Banks will also transition to full reporting under international IFRS standards.
The Central Bank believes that a combination of economic growth, declining inflation, and a flexible exchange rate should strengthen investor confidence in Uzbekistan.