BAKU, Azerbaijan, Aug. 19
By Ilkin Seyfaddini - Trend:
Uzbekistan's gold and foreign currency reserves increased by 19.2 percent in the period from January through July 2020 and reached $34.7 billion compared to the same period last year, Trend reports citing data from the International Reserves Management Department of the country's Central Bank.
In July 2020, reserves increased by 7.5 percent compared to July 2019.
The country's reserves in monetary gold have increased by 27.1 percent in value in the period from January through July, including by 6.5 percent in July to $20.7 billion, in physical terms - decreased by 1.9 and 3.6 percent respectively to 10.6 million troy ounces or about 329.7 tons.
In particular, international reserves in foreign currency increased by 9.4 percent in the period from January through July, including by 9.3 percent increase in July and amounted to $13.6 billion.
According to the IMF, official gold reserves of Uzbekistan accounted for 342.8 tons as of August 1, 2020. According to the fund, gold reserves made up 60 percent of all reserves of Uzbekistan.
The largest gold deposit in Uzbekistan (and one of the largest in the world) is Muruntau deposit. It is located in the Muruntau mountains in the southwest of the Kyzylkum desert, in the Tamdy district of Navoi region of Uzbekistan.
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