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Gold prices have significant impact on foreign exchange reserves of Uzbekistan

Business Materials 17 August 2018 14:27 (UTC +04:00)

Baku, Azerbaijan, Aug. 17

By Fikret Dolukhanov - Trend:

By August 1, 2018, Uzbekistan's gross gold and foreign currency reserves have fallen to $27.39 billion, which is 270.6 million lower than the indicator as of July 1 (27.66 billion), the press service of the Central Bank of Uzbekistan said in a statement.

The gross foreign exchange reserves have fallen mainly due to the decline in gold prices from $1250.55 to $1219.20 per Troy ounce (the estimated impact on the decline – $347.0 million).

Some $13.59 billion falls to the share of assets in foreign currency, and $13.79 billion – to the share of monetary gold, the message says.

The net foreign exchange reserves for the period have amounted to $26.36 billion against $26.66 billion on July 1.

Indicators (in millions of US dollars)

01.01.2017

01.01.2018

01.04.2018

01.07.2018

01.08.2018

I. Gross gold and foreign exchange reserves

26 428.8

28 076.9

28 494.0

27 660.5

27 389.9

1. Assets in foreign currency

14 172.3

14 042.8

14 517.2

13 818.3

13 597.6

2. Monetary gold

12 256.6

14 034.1

13 976.8

13 842.2

13 792.3

II. Net foreign exchange reserves

25 188.3

26 567.5

27 086.7

26 648.9

26 365.1

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