Currencies

Tajikistan’s credit market demonstrates steady movement in foreign currency lending


BAKU, Azerbaijan, June 22. Foreign currency
credit investments of credit and financial organizations in
Tajikistan increased during the first four months of 2026.

The analysis is based on numerical data published by the Central
Bank of Tajikistan.

Foreign currency credit investments amounted to 20.91 billion
somoni ($2.25 billion) at the end of January 2026. The figure
increased to 21.36 billion somoni ($2.3 billion) in February, 21.56
billion somoni ($2.32 billion) in March, and reached 22.1 billion
somoni ($2.38 billion) by the end of April.

Compared with January, foreign currency credit investments
increased by 1.18 billion somoni ($127 million), or 5.6%, by the
end of April.

Monthly growth was recorded throughout the reporting period. In
February, foreign currency credit investments increased by 445.5
million somoni ($48 million), or 2.1%, compared with January.




In March, the volume increased by 198.1 million somoni ($21.3
million), or 0.9%, compared with February. In April, foreign
currency credit investments rose by 537.2 million somoni ($57.8
million), or 2.5%, compared with March.

The continued expansion of foreign currency lending indicates
active credit operations within Tajikistan’s financial sector
during the first months of 2026.

Meanwhile, the increase in foreign currency credit investments
suggests continued demand for financing and active participation of
financial organizations in supporting economic activity. Growth of
more than 5% over four months may indicate that businesses and
borrowers continue to rely on credit resources for operational
needs and investment projects.

If this trend continues, expanding foreign currency lending
could support trade operations, investment activities and sectors
that traditionally require foreign currency financing. At the same
time, higher foreign currency exposure requires careful management
of exchange rate risks and maintaining the quality of loan
portfolios.



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