Ever tried to pay for a mountain of shashlik in Tashkent and realized your wallet is literally bulging with stacks of cash? If you've spent any time in Uzbekistan recently, you know the drill. The relationship between the US Dollar and the Uzbek Sum is, frankly, a bit of a rollercoaster. It’s not just about numbers on a screen; it’s about how much your coffee costs at a hip cafe in Chorsu versus a fancy hotel in the capital.
Right now, as of mid-January 2026, the usd to uzbek sum exchange rate is hovering around 11,975 UZS to 1 USD.
Wait, did you catch that? It’s actually stronger than it was a few months ago. Most people expect the Sum to just keep losing value forever—that's been the vibe for years. But 2026 is turning out to be a weirdly "strong" year for the Uzbek currency. If you’re planning a trip or moving money for business, this shift matters a lot.
The Gold Factor: Why the Sum is Holding Its Own
Uzbekistan is sitting on a gold mine. Literally.
The Central Bank of Uzbekistan (CBU) has been playing a very smart game. While other currencies are getting hammered by global inflation, the Sum has found a bit of a safety net in gold. Since gold prices hit record highs—we're talking over $4,500 per ounce in early 2026—Uzbekistan’s international reserves have ballooned to over $66 billion.
When the country sells gold, they get dollars. When they have lots of dollars, they can support the Sum. It’s a basic supply-and-demand situation that has kept the usd to uzbek sum rate much more stable than anyone predicted back in 2023.
What’s Actually Happening at the Banks?
Honestly, the "official" rate and the rate you get at a booth can be two different worlds. If you walk into Kapitalbank or NBU (National Bank of Uzbekistan) today, you’ll probably see a "Buy" rate of about 11,920 and a "Sell" rate closer to 12,025.
- Pro Tip: Don’t bother with the black market. Those days are over. Ever since the currency liberalization a few years back, the rates at official exchange offices are fair. You won't get arrested, and you won't get ripped off.
- The App Advantage: If you’re living there, use apps like Milliy or Uzum. The rates for in-app currency conversion are often a few points better than standing in line at a physical branch.
- ATM Reality: Most ATMs in Tashkent and Samarkand now spit out Sums directly from your Visa or Mastercard. Just watch out for the 1% to 3% fee. It adds up.
Why Does the Rate Keep Moving?
It’s not just gold. There are a few "invisible" hands pushing the usd to uzbek sum numbers around every day.
For one, remittances are huge. Millions of Uzbeks work abroad—mostly in Russia, but increasingly in the EU and the US—and they send billions of dollars home. When that money hits the local market, it creates a massive demand for the Sum.
Then there’s the CBU’s interest rate. They’ve kept it high—around 14%. That makes holding Sums more attractive than it used to be. Why dump your local currency for dollars if you can get 14% interest in a local savings account? Well, inflation is the answer to that, but even inflation is cooling down to about 7.3% now.
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The "Tourist Tax" (That Isn't Really a Tax)
If you're a traveler, the usd to uzbek sum rate is your best friend right now. Your dollars go incredibly far. A high-end meal that would cost $100 in New York or London will run you maybe $20 in Tashkent.
But here is the thing: prices in Uzbekistan are "sticky." Even if the Sum gets stronger against the dollar, menu prices rarely go down. This means your "purchasing power" is best when the Sum is weak, but the current stability makes it much easier to budget for long-term stays.
The Real-World Impact: A Quick Breakdown
- Imported Goods: If you want an iPhone or a Samsung in Tashkent, you're paying in Sums, but the price is pegged to the Dollar. When the usd to uzbek sum rate spikes, your tech gets expensive fast.
- Real Estate: Most big-ticket items like apartments are still quoted in "Units" (which is just code for Dollars). You’ll pay in Sums, but the amount changes every Tuesday based on the CBU rate.
- Dining Out: Local food stays cheap. Bread (non) and plov are shielded from exchange rate drama because the ingredients are grown right there in the Fergana Valley.
What to Expect for the Rest of 2026
Predictions are a fool's game, but the data points toward a "slow crawl." The government wants to reach an inflation target of 5% by 2027. To get there, they can't let the Sum collapse.
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Expect the usd to uzbek sum rate to stay within the 12,000 to 12,500 range for the foreseeable future. There might be small shocks if gold prices dip or if regional trade gets messy, but the days of 20% annual devaluation seem to be in the rearview mirror.
Actionable Steps for Your Money
If you have USD and need Sums, don't change everything at once. The rate fluctuates daily. Swap what you need for 3–4 days at a time. This protects you if the Sum suddenly gains strength.
Always keep some small denominations. While $100 bills are preferred by exchange offices (they must be pristine—no marks, no folds!), you'll want smaller Sum notes for taxis and bazaars.
Lastly, check the Central Bank of Uzbekistan website (cbu.uz) every morning. It’s the "source of truth" that every bank and business in the country uses to set their prices. Knowing that number before you walk into a bank gives you the upper hand.
Stick to the official channels, watch the gold market, and enjoy the fact that your dollar still buys a whole lot of hospitality in the heart of the Silk Road.