Uzbekistan will increase the threshold for purchasing foreign currency in cash without a passport from $100 to $500. The new rules will come into effect on August 9, reports gazeta.uz.
According to the publication, the limit for buying cash foreign currency without an identity document will be increased fivefold. The document, developed by the Central Bank, was officially registered on May 8 and will take effect on August 9. These new regulations will allow citizens to purchase up to $500 in foreign currency at banks without presenting a passport, ID card, or other forms of identification.
Currently, banks are required to conduct mandatory “know-your-customer” (KYC) checks for clients purchasing more than $100 in foreign currency. These verification measures include identifying the individual, verifying the authority of anyone acting on the client’s behalf, and monitoring the purpose of the transaction and, if necessary, the source of funds.
Gazeta.uz recalled that in 2025, citizens of Uzbekistan sold more foreign currency than they bought. The difference grew to $9.7 billion (+44.2%), serving as an additional source of currency supply in the market.
