USD to UZS for business payments
A foreign business can pay an Uzbek supplier in US dollars or have dollars converted to Uzbek soum (UZS), because Uzbekistan's Law on Currency Regulation lets current international operations, and the currency purchases linked to them, run without restriction. The supplier must still repatriate what it earns, and Uzbek companies settle with each other in soum, so the route you choose should fit both rules.
- Article 15 of Uzbekistan's Law on Currency Regulation (ZRU-573 of 22 October 2019) permits current international operations, and the purchase or sale of foreign currency linked to them, without restriction.
- Article 11 requires a resident to ensure repatriation of assets under foreign trade operations, and a delay of more than 180 days past the obligation date is treated as a capital movement.
- Under Article 19, residents and non-residents may buy and sell foreign currency in Uzbekistan only through Uzbek banks.
- Under Article 17, currency operations between residents are prohibited except in listed cases, so two Uzbek companies settle with each other in soum.
- The Central Bank of Uzbekistan (CBU) stated on 5 September 2023 that there are no restrictions on international payment services, as reported by Kun.uz.
The Uzbek soum at a glance
The Uzbek soum (UZS) is the national currency of Uzbekistan, issued by the Central Bank of the Republic of Uzbekistan (CBU). Currency rules are set by the Law on Currency Regulation, No. ZRU-573 of 22 October 2019, with the CBU and the tax authority as the bodies residents notify. The soum's rate against the dollar changes, and foreign currency may be bought and sold only through Uzbek banks, which quote their own rates.
| Rule | What the law says | Article |
|---|---|---|
| Payments for trade and services | Current international operations, and linked currency purchases and sales, without restriction | 15 |
| Repatriation | Residents must ensure repatriation of assets under foreign trade operations; more than 180 days late is treated as a capital movement | 11 |
| Where currency is exchanged | Only through Uzbek banks | 19 |
| Payments between residents | In soum, except in cases the law lists | 17 |
| Accounts abroad for residents | Only under a decision of the President or the Government, or an international treaty | 12 |
Source: Law of the Republic of Uzbekistan No. ZRU-573 On Currency Regulation (22 October 2019). Checked on 29 October 2026.
What Uzbek currency law means for your payment
Uzbekistan liberalized its currency rules with the 2019 law. A law firm review notes that dividend payments, foreign trade payments and the repatriation of foreign direct investment can be made without limitation, and the CBU stated on 5 September 2023 that there are no restrictions on international payment services, as reported by Kun.uz. Four points still shape a supplier payment.
- Repatriation. The Uzbek supplier must ensure repatriation of what it earns from foreign trade. If repatriation runs more than 180 days past the obligation date, the transaction is treated as a capital movement, which brings extra rules. Pay on the agreed date, to the supplier's account in Uzbekistan.
- Accounts abroad are exceptional. An Uzbek company may open an account abroad only under a decision of the President or the Government, or an international treaty, and must notify the tax authority and the CBU. Do not pay an Uzbek supplier's "foreign account" unless it shows that basis.
- Soum between residents. Currency operations between residents are prohibited except in listed cases, so your Uzbek agent, forwarder or subsidiary pays local parties in soum.
- No crypto payments. Crypto may not be used as a means of payment, except in the stablecoin sandbox for pilot projects from 1 January 2026, according to Verba Legal's summary of Resolution PP-359.
Our guide to USD business accounts in Uzbekistan covers the supplier's side.
How a payment reaches an Uzbek supplier
Uzbek banks open foreign currency accounts in US dollars for companies in their own name. A payment from abroad arrives by SWIFT through the Uzbek bank's US correspondent. Because foreign currency can be exchanged only through Uzbek banks, a soum payment from abroad is converted inside Uzbekistan by a bank, either the supplier's bank on arrival or the bank your provider uses.
| You send | Supplier receives | Who converts |
|---|---|---|
| USD by SWIFT to the supplier's dollar account | USD, counted toward repatriation | The supplier, through its Uzbek bank, when it chooses |
| USD by SWIFT to the supplier's soum account | UZS | The supplier's bank, at its rate, on arrival |
| USD to an account abroad | Only where an Article 12 basis exists | Not the standard route |
Sources: Law ZRU-573, Articles 12, 15 and 19; Revera, opening corporate accounts in Uzbekistan. Checked on 29 October 2026.
Give your bank the supplier's registered name exactly as on the account, the dollar account number, the bank's name and SWIFT code, and the contract and invoice numbers. Check the code with our SWIFT code lookup.
What converting USD to UZS costs
Any conversion to soum is made of the market rate, plus the bank's margin, plus the payment fee; under Article 19 the conversion itself happens at an Uzbek bank. When you pay dollars to a dollar account, your costs are your sending fee and any intermediary deductions, and the supplier chooses when to convert. Uzbek banks publish business tariffs: the National Bank of Uzbekistan's Pro International tariff, described as a USD business account for small and medium businesses, makes outgoing USD transfers abroad free up to $10,000 and charges 0.2% above that, which matters if your supplier also pays its own suppliers abroad in dollars.
Helm is a financial technology company, not a bank. Its US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with customer funds held at Lead Bank. A Helm account holds dollars in your company's own name and sends international payments to suppliers by SWIFT, or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before you send.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
Pay an Uzbek supplier in USD or UZS?
- Pay USD for exports priced in dollars, into the supplier's dollar account in Uzbekistan. The payment counts toward its repatriation and leaves the conversion decision with it.
- Pay UZS only when the contract is priced in soum or for local costs, and accept that the conversion happens at an Uzbek bank's rate.
- Pay on time. More than 180 days past the obligation date turns the supplier's receipt into a capital movement.
For how wire charges are split, see our guide to OUR, SHA and BEN.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Does Uzbekistan restrict payments for goods and services?
No. Article 15 of the Law on Currency Regulation permits current international operations, and the purchase or sale of foreign currency linked to them, without restriction.
Does an Uzbek exporter have to repatriate dollars?
Yes. Article 11 requires a resident to ensure repatriation of assets under foreign trade operations, and a delay of more than 180 days past the obligation date is treated as a capital movement.
Where can soum be exchanged for dollars?
Under Article 19, residents and non-residents may buy and sell foreign currency in Uzbekistan only through Uzbek banks.
Can two Uzbek companies pay each other in dollars?
Generally no. Article 17 prohibits currency operations between residents except in listed cases, so they settle in soum.
Can I pay an Uzbek supplier in USDT?
Crypto may not be used as a means of payment in Uzbekistan, except in a stablecoin sandbox for pilot projects from 1 January 2026, according to a summary of Resolution PP-359.
What does Helm charge to pay a supplier in Uzbekistan?
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
References
- Law of the Republic of Uzbekistan No. ZRU-573 On Currency Regulation (22 October 2019)
- Mondaq: Uzbekistan to introduce new currency control rules
- Kun.uz: Central Bank says there are no restrictions on international payment services (5 September 2023)
- Revera: Opening corporate accounts in Uzbekistan and conducting transactions on them
- National Bank of Uzbekistan: Tariff Pro International
- Verba Legal: New rules on the regulation of cryptocurrency and digital financial assets (Resolution PP-359)
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.