Uzbekistan has introduced a new regulation allowing individuals to purchase up to 500 US dollars in cash foreign currency from banks without presenting any identification documents. The departmental document, initiated by the Ministry of Justice, came into force on August 9.

Under the new rules, passports, ID cards, or other substitute documents are no longer required for cash currency purchases up to $500. This marks a significant increase from the previous threshold of $100.

The decision aims to simplify currency exchange procedures for citizens and enhance trust in the banking system. Analysts suggest that this measure could boost legal exchange volumes and reduce pressure on the national currency.

It is worth recalling that during 2025, Uzbek citizens sold more currency than they purchased. The difference grew to $9.7 billion (+44.2%), becoming an additional source of currency in the market.

The new rules are also expected to apply at exchange offices. Bank and exchange office staff will need to operate in accordance with the updated requirements.

Source: www.gazeta.uz