Uzbekistan increases its gold, foreign exchange reserves

Finance Materials 13 March 2020 14:21 (UTC +04:00)
Uzbekistan increases its gold,  foreign exchange reserves

BAKU, Azerbaijan, Mar. 13

By Ilkin Seyfaddini - Trend:

Uzbekistan's international reserves increased by $1.36 billion or 4.65 percent in January through February 2020 and reached $30.53 billion, Trend reports citing the Central Bank of Uzbekistan.

In particular, Uzbekistan's reserves in foreign currency increased by 3.2 percent to $12.87 billion for two months of this year, in gold - by 5.9 percent to $17.29 billion, in volume - decreased by 1.3 percent to 10.63 million troy ounces.

The official gold and foreign exchange reserves at the beginning of 2020 amounted to 29.1 billion dollars. International reserves amounted to $28.6 billion.

Uzbekistan's reserves are mainly distributed between US dollar ($12.4 billion) and gold ($16.3 billion).

In autumn 2017, official reserves amounted to $29 billion, which is mainly due to an increase in the price of gold, while the amount of gold has remained almost the same as in October 2019 - 10.8 million troy ounces (311,034,768 grams) or 336 tons.

According to the Central Bank, the methodology for calculating gold and foreign exchange reserves is in accordance with the standards of the International Monetary Fund.


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