Baku, Azerbaijan, February 26
By Fakhri Vakilov - Trend:
The volume of Uzbek net foreign exchange reserves as of February 1 amounted to $26.6 billion, having increased by $206 million in January, Trend reports with reference to Uzbek Central Bank.
Gross foreign exchange reserves in January amounted to $27.22 billion, where foreign exchange assets are $12.64 billion (increase in $203 million per month), monetary gold are $14.58 billion (decrease in $62 million per month).
The increase in foreign exchange reserves in January, the Central Bank partially causes the increase in the price of gold from $1281.65 to $1322.50 per troy ounce. The estimated effect on the increase amounted to $466.6 million.
Earlier it was reported that e increase in gold reserves in Uzbekistan can reach 474 tons in 2020-2024 and their value is estimated at $18.75 billion.
About 45 percent of the total appropriations for geological exploration will be directed to the search, evaluation and exploration of gold. The volume of investment in exploration for gold should be about $230 million.
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