{"id":5453,"date":"2025-12-15T11:24:17","date_gmt":"2025-12-15T06:24:17","guid":{"rendered":"https:\/\/invexi.org\/?p=5453"},"modified":"2025-12-15T12:08:54","modified_gmt":"2025-12-15T07:08:54","slug":"review-of-the-domestic-foreign-exchange-market-demand-and-supply-dynamics-and-strengthening-of-the-national-currency","status":"publish","type":"post","link":"https:\/\/invexi.org\/uz\/press\/review-of-the-domestic-foreign-exchange-market-demand-and-supply-dynamics-and-strengthening-of-the-national-currency\/","title":{"rendered":"Ichki valyuta bozori sharhi: talab va taklif dinamikasi hamda milliy valyutaning mustahkamlanishi"},"content":{"rendered":"<p><\/p>\n<p data-path-to-node=\"31\"><span style=\"font-size: 14pt;\"><em><strong>2025-yilning 11 oyi yakunlari bo\u2018yicha O\u2018zbekiston ichki valyuta bozori yuqori faollik va barqarorlikni namoyish etdi. Davrning asosiy tendensiyalari xorijiy valyuta taklifining talabga nisbatan ilgarilab o\u2018sishi, aholi ishtirokidagi operatsiyalar hajmining sezilarli oshishi va milliy valyutaning mustahkamlanishi bo\u2018ldi.<\/strong><\/em><\/span><\/p>\n<p data-path-to-node=\"32\"><span style=\"font-size: 14pt;\"><b>1. Talab va taklifning umumiy balansi<\/b><\/span><\/p>\n<p data-path-to-node=\"33\"><span style=\"font-size: 14pt;\">2025-yilning yanvar-noyabr oylarida O\u2018zbekiston ichki valyuta bozorida taklif tomondan ham, talab tomondan ham o\u2018sish kuzatildi, biroq ichki bozorda xorijiy valyuta umumiy taklifining o\u2018sish sur\u2019atlari talabning o\u2018sish sur\u2019atlaridan yuqori bo\u2018ldi.<\/span><\/p>\n<ul data-path-to-node=\"34\">\n<li>\n<p data-path-to-node=\"34,0,0\"><span style=\"font-size: 14pt;\"><b>Talab:<\/b> Xorijiy valyutaga bo\u2018lgan umumiy talab hajmi 53,7 mlrd dollarni tashkil etib, o\u2018tgan yilning mos davriga nisbatan 24 foizga oshdi.<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"34,1,0\"><span style=\"font-size: 14pt;\"><b>Taklif:<\/b> Taklif hajmi (Markaziy bank operatsiyalarini hisobga olmaganda) 45,6 mlrd dollarga yetib, 26 foizlik o\u2018sishni ko\u2018rsatdi.<\/span><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"35\"><span style=\"font-size: 14pt;\">Monetar oltin bilan bog\u2018liq operatsiyalar hisobiga shakllanayotgan qo\u2018shimcha likvidlik Markaziy bank tomonidan valyuta intervensiyalari (neytrallik tamoyili doirasida) va boshqa pul-kredit instrumentlari orqali sterilizatsiya qilib borilmoqda.<\/span><\/p>\n<p data-path-to-node=\"36\"><span style=\"font-size: 14pt;\"><b>2. Korporativ sektor: Faollikning o\u2018sishi va moliyalashtirish manbalari<\/b><\/span><\/p>\n<p data-path-to-node=\"37\"><span style=\"font-size: 14pt;\">Yuridik shaxslar segmentida sezilarli dinamika kuzatilmoqda: biznes tomonidan valyuta taklifining o\u2018sish sur\u2019atlari (+35%) ularning valyutaga bo\u2018lgan talabi o\u2018sishidan (+24%) sezilarli darajada o\u2018zib ketdi.<\/span><\/p>\n<p data-path-to-node=\"38\"><span style=\"font-size: 14pt;\">Biznes tomonidan valyuta taklifi quyidagi asosiy manbalar hisobiga shakllandi:<\/span><\/p>\n<ul data-path-to-node=\"39\">\n<li>\n<p data-path-to-node=\"39,0,0\"><span style=\"font-size: 14pt;\"><b>Eksport tushumi:<\/b> Xo\u2018jalik yurituvchi subyektlarning eksport tushumi hisobiga shakllangan valyuta taklifi 17 foizga oshib, 16,0 mlrd dollarni tashkil etdi. Ushbu hajmdan ichki bozorda 8,9 mlrd dollar (tushumning 55 foizi) sotildi, bu o\u2018tgan yilga nisbatan 1,4 mlrd dollarga yoki 19 foizga ko\u2018pdir.<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"39,1,0\"><span style=\"font-size: 14pt;\"><b>Kredit liniyalari:<\/b> Tijorat banklari tomonidan jalb qilingan xorijiy kredit liniyalari hisobidan bozorda 8,1 mlrd dollar sotildi, bu 2024-yil ko\u2018rsatkichlaridan 63 foizga (yoki 3,5 mlrd dollarga) ko\u2018pdir.<\/span><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"40\"><span style=\"font-size: 14pt;\"><b>Importni moliyalashtirish tarkibi:<\/b> Importni moliyalashtirishning asosiy manbai bo\u2018lib ichki bozorda konvertatsiya qilingan mablag\u2018lar qolmoqda (64,7%). Korxonalarning o\u2018z valyuta mablag\u2018lari hisobidan moliyalashtirilgan import ulushi 24,0 foizni, valyuta kreditlari hisobidan esa 11,3 foizni tashkil etdi.<\/span><\/p>\n<p data-path-to-node=\"41\"><span style=\"font-size: 14pt;\"><b>Valyuta xarid qilish maqsadlari:<\/b> Biznes xorijiy valyutani asosan ishlab chiqarish va investitsiyaviy maqsadlar uchun xarid qildi:<\/span><\/p>\n<ul data-path-to-node=\"42\">\n<li>\n<p data-path-to-node=\"42,0,0\"><span style=\"font-size: 14pt;\"><b>50%<\/b> \u2014 ishlab chiqarish uchun asbob-uskunalar, tovarlar va xomashyo importi.<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"42,1,0\"><span style=\"font-size: 14pt;\"><b>27%<\/b> \u2014 xorijiy valyutadagi kreditlarni so\u2018ndirish.<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"42,2,0\"><span style=\"font-size: 14pt;\"><b>17%<\/b> \u2014 xalq iste\u2019moli tovarlari va dori-darmon mahsulotlari importi.<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"42,3,0\"><span style=\"font-size: 14pt;\"><b>2%<\/b> \u2014 xorijiy investorlar daromadlari repatriatsiyasi.<\/span><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"43\"><span style=\"font-size: 14pt;\"><b>3. Aholining o\u2018rni va transchegaraviy o\u2018tkazmalar<\/b><\/span><\/p>\n<p data-path-to-node=\"44\"><span style=\"font-size: 14pt;\">Jismoniy shaxslar operatsiyalari valyuta bozoridagi qo\u2018shimcha taklifning muhim manbalaridan biriga aylandi. Aholining banklar bilan operatsiyalari bo\u2018yicha ijobiy saldo 8,7 mlrd dollarga yetib, o\u2018tgan yilga nisbatan 1,4 barobarga oshdi.<\/span><\/p>\n<ul data-path-to-node=\"45\">\n<li>\n<p data-path-to-node=\"45,0,0\"><span style=\"font-size: 14pt;\"><b>Aholi tomonidan valyuta sotuvi:<\/b> Fuqarolar banklarga 19,4 mlrd dollar sotdi (1,3 barobar o\u2018sish).<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"45,1,0\"><span style=\"font-size: 14pt;\"><b>Aholi tomonidan valyuta xaridi:<\/b> Jismoniy shaxslar tomonidan valyuta xaridi hajmi 10,6 mlrd dollarni tashkil etdi (+25%).<\/span><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"46\"><span style=\"font-size: 14pt;\"><b>Pul o\u2018tkazmalari:<\/b> Taklifga xalqaro pul o\u2018tkazmalari sezilarli darajada madad bo\u2018ldi. 2025-yil yanvar-noyabr oylarida respublikaga 17,3 mlrd dollar kelib tushdi, bu 2024-yilning mos davriga nisbatan 25 foizga (yoki 3,5 mlrd dollarga) ko\u2018pdir. Shu bilan birga, o\u2018tkazmalar orqali valyuta chiqib ketishi 157 mln dollarga qisqarib, 2,4 mlrd dollarni tashkil etdi.<\/span><\/p>\n<p data-path-to-node=\"47\"><span style=\"font-size: 14pt;\"><b>4. Almashuv kursi dinamikasi<\/b><\/span><\/p>\n<p data-path-to-node=\"48\"><span style=\"font-size: 14pt;\">Yuzaga kelayotgan makroiqtisodiy sharoitlar va bozorning qulay kon\u2019yunkturasi fonida milliy valyuta mustahkamlanish tendensiyasini namoyish etdi. 2025-yilning 11 oyi davomida so\u2018m kursi 7,5 foizga mustahkamlandi.<\/span><\/p>\n<p data-path-to-node=\"49\"><span style=\"font-size: 14pt;\">Agar 2025-yil boshida almashuv kursi bir dollar uchun 12 920 \u2013 12 960 so\u2018m oralig\u2018ida bo\u2018lgan bo\u2018lsa, noyabr oyi oxiriga kelib u 11 900 so\u2018m darajasigacha to\u2018g\u2018rilandi.<\/span><\/p>\n<p data-path-to-node=\"50\"><span style=\"font-size: 14pt;\"><b>Mustahkamlanish omillari:<\/b> Milliy valyutaning mustahkamlanishi quyidagi makroiqtisodiy omillar yig\u2018indisi bilan izohlanadi:<\/span><\/p>\n<ul data-path-to-node=\"51\">\n<li>\n<p data-path-to-node=\"51,0,0\"><span style=\"font-size: 14pt;\">Eksportdan valyuta oqimlarining sezilarli o\u2018sishi.<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"51,1,0\"><span style=\"font-size: 14pt;\">Xorijiy investitsiyalarning o\u2018sib boruvchi dinamikasi.<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"51,2,0\"><span style=\"font-size: 14pt;\">Jalb qilingan xorijiy kreditlar va pul o\u2018tkazmalari hajmining oshishi.<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"51,3,0\"><span style=\"font-size: 14pt;\">Import hajmlarining nisbatan barqarorlashuvi.<\/span><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"52\"><span style=\"font-size: 14pt;\"><b>Xulosa<\/b><\/span><\/p>\n<p data-path-to-node=\"53\"><span style=\"font-size: 14pt;\">O\u2018zbekiston valyuta bozori 2025-yilda muvozanatli o\u2018sish va yuqori likvidlik bilan tavsiflanadi. Biznes tomonidan valyuta taklifining jadal o\u2018sishi va o\u2018tkazmalarning rekord hajmlari kabi tarkibiy o\u2018zgarishlar milliy valyutaning mustahkamlanishi uchun mustahkam poydevor yaratdi va bu makroiqtisodiy barqarorlikka xizmat qilmoqda.<\/span><\/p>\n<p data-path-to-node=\"54\"><span style=\"font-size: 14pt;\"><b>Manba:<\/b> <a href=\"https:\/\/cbu.uz\/upload\/iblock\/671\/u9ttwty096rfeypz2js8abcyj8cve35w\/Ichki-valyuta-bozori-shar_i_UZ-_9_.pdf\" target=\"_blank\" rel=\"noopener\">O\u2018zbekiston Respublikasi Markaziy banki<\/a><\/span><\/p>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>2025-yilning 11 oyi yakunlari bo\u2018yicha O\u2018zbekiston ichki valyuta bozori yuqori faollik va barqarorlikni namoyish etdi. Davrning asosiy tendensiyalari xorijiy valyuta taklifining talabga nisbatan ilgarilab o\u2018sishi, aholi ishtirokidagi operatsiyalar hajmining sezilarli oshishi va milliy valyutaning mustahkamlanishi bo\u2018ldi.<\/p>\n","protected":false},"author":1,"featured_media":5455,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-5453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/posts\/5453","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/comments?post=5453"}],"version-history":[{"count":7,"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/posts\/5453\/revisions"}],"predecessor-version":[{"id":5464,"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/posts\/5453\/revisions\/5464"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/media\/5455"}],"wp:attachment":[{"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/media?parent=5453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/categories?post=5453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/invexi.org\/uz\/wp-json\/wp\/v2\/tags?post=5453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}