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Uzbekistan’s volume of official reserve assets decreases

Uzbekistan Materials 16 February 2021 11:18
Uzbekistan’s volume of official reserve assets decreases

BAKU, Azerbaijan, Feb. 16

By Klavdiya Romakayeva - Trend:

The volume of official reserve assets and other assets in foreign currency in Uzbekistan decreased from $34.9 billion to $34.3 billion, Trend reports referring to the information on the international reserves of Uzbekistan published by the Central Bank of Uzbekistan (CBU).

The total amount of foreign currency reserves in January 2021 decreased by $650.9 million. It was noted that all foreign currency reserves are still presented in cash and deposits.

At the same time, the volume of gold in reserves in January 2021 increased by 9,331.05 kilograms or $66.6 million.

In January 2021, it was reported that the amount of gold in Uzbekistan's reserves fell sharply between July and October 2020. However, after that, the volume of gold gradually returned to the values of the beginning of 2020 and amounted to 10.7 million troy ounces at the end of 2020.

It was noted that the value of these reserves increased by $5.73 billion to $20.22 billion due to the revaluation of precious metal reserves (growth in gold prices).

In addition, the country's reserves include Special Drawing Rights (SDR). It is an asset created by the International Monetary Fund (IMF) in 1969 to replenish the reserves of member states. SDR volume for the year increased from $368 million to $383.3 million ($15.3 million).

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Follow the author on Twitter: @romakayeva

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